ASL to take over TNT Airways

 

One of the biggest questions arising out of FedEx’s acquisition of TNT Express has been answered: Ireland-based ASL Aviation Group signed an agreement to acquire TNT’s airline operations, including both TNT Airways, and Spain-based Pan Air Lineas Aéreas.

The agreement is conditional on the completion of FedEx’s acquisition of TNT, but regulatory authorities in Europe, the US, and Brazil have already announced their approval, so ASL’s takeover of Pan Air and TNT Airways (FedEx cannot own a European airline) is almost certain.
Given the size of TNT’s fleet, there were really only two European carriers with the experience to step in and take over – ASL and West Air – and ASL was in fact poised to take over TNT Airways several years ago until the European Commission torpedoed UPS’ acquisition of TNT.

Financial details of the ASL/TNT agreement “will not be disclosed,” but the companies have released some of the operational details.

More questions remain, of course, but the basic questions – who will buy TNT Airways/Pan Air, and will there be any immediate drastic changes – have now been answered.

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