ASL Aviation Group has reached agreement to acquire the airline operations of TNT Express N.V. (hereafter TNT), comprised of TNT Airways (Belgium) and Pan Air Líneas Aéreas (Spain). The agreement is conditional on the completion of the intended acquisition of TNT, which is expected in the first half of 2016. The change of ownership and control of TNT’s airline operations will ensure continuity of service delivery as well as compliance with EU airline ownership and control rules. As part of the agreement, ASL Aviation Group will take over the flights operated by TNT Airways and Pan Air Líneas Aéreas from the moment the sale is completed. ASL Aviation Group expects that the airlines will maintain contracts with partner airlines, contractors and suppliers. In conjunction with the transaction, ASL Aviation Group has entered a multi-year service agreement with TNT to operate flights for the intended FedEx-TNT combination. ASL Aviation Group will continue to serve multiple airline customers. Upon completion of the airline acquisition employees of TNT Airways and Pan Air Líneas Aéreas will become part of ASL Aviation Group. The employees’ current terms and conditions of employment will be respected and it is intended that the TNT Airways headquarters in Liège will be maintained. TNT’s Liège hub (Eurohub) is not part of the airlines sale.
ASL Aviation Group is an established and profitable aviation group, headquartered in Dublin, Ireland, which provides aviation services globally with 7 Air Operators Certificates in Europe, Africa and Asia, two support services companies and various leasing entities. ASL currently owns and operates a fleet of +/- 100 aircraft for freight and passenger transport and the ASL Aviation Group had revenues of €382m in 2015. TNT operates a fleet of about 35 aircraft and also uses about 20 aircraft on wet leases to supplement its operations. TNT Airlines have about 580 staff including air crew and ground staff. Details of the transaction will not be disclosed.
