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TNT Signs Conditional Sale Agreement with ASL Aviation

[ February 11, 2016   //   ]

TNT Express N.V. has signed an agreement to sell its airline operations TNT Airways and Pan Air Lineas Aereas to ASL Aviation Group, conditional on the completion of FedEx’ intended acquisition of TNT, which is expected in the first half of 2016.

The change of ownership and control of TNT’s airlines operations will ensure continuity of service delivery as well as compliance with EU airline ownership and control rules. It is another step towards closing of the FedEx offer to acquire TNT.

As part of the agreement, ASL Aviation Group will take over the flights operated by TNT Airways and Pan Air Lineas Aereas from the moment the sale is completed. ASL Aviation Group expects the airlines will maintain contracts with partner airlines, contractors and suppliers. In conjuction with the transaction, ASL Aviation Group has entered a multi-year service agreement with TNT to operate flights for the intended FedEx-TNT combinaison. ASL Aviation Group will continue to serve multiple airline customers.

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