Express fleet continues modest growth

Today we begin a two-part analysis of the jet freighter fleets operated in express service worldwide. Tomorrow we will look at the fleet on an operator-by-operator basis, but here we examine the current makeup of the total fleet, and the way it has changed over the years. At the end of the first quarter of […]
  • David Harris
  • May 16, 2016

TNT – the final quarter

TNT published its first-quarter 2016 results. Or perhaps “final quarter” would be a better term, or “last full quarter.” After seventy years in business, TNT is counting down its final six weeks, with 6 June likely the day FedEx will formally acquire the Netherlands-based express company. But in the meantime, TNT reported a net first-quarter loss […]
  • David Harris
  • April 26, 2016

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 […]
  • David Harris
  • February 5, 2016

FedEx/TNT — all over but the shouting

No, FedEx did not complete the takeover of TNT today, and no, it won’t happen tomorrow, but the European Commission today granted unconditional approval of the deal, and completion is now a foregone conclusion. Margrethe Vestager, the European Union’s Commissioner for Competition, said the EC had “thoroughly assessed the markets affected,” and concluded “that European consumers will not […]
  • David Harris
  • January 8, 2016

ASL and West Atlantic are raising cash

The front-runner to acquire TNT’s two airlines – in terms of market speculation, anyway – is Ireland’s ASL Aviation Group and its 51% shareholder, Compagnie Maritime Belge (CMB). So it comes as little surprise that ASL has completed a funding round, worth US$110m, for “growth plans.” While no one is talking much about their possible […]
  • Alex Lenanne
  • December 29, 2015

FedEx settles with pilots, takes next step with TNT

It has been an interesting week for FedEx. First, the company reached a tentative agreement on an amended collective bargaining agreement with the Air Line Pilots Association (ALPA, the union which represents FedEx’s pilots). This puts an end to four years of negotiations, the last ten months of which have been conducted under mediation by […]
  • David Harris
  • August 26, 2015

FedEx takeover of TNT enters Phase II

The European Commission has begun its Phase II review of FedEx’s offer to acquire TNT Express. As both companies have pointed out, this is a normal part of the legal process for proposed mergers and acquisitions in the EU, not an unexpected roadblock. In addition to the review in Europe, the proposed transaction is also being […]
  • David Harris
  • July 31, 2015

TNT breaks even, increases CapEx in Q2

TNT Express reported second-quarter net income of €0, down slightly from the €1 million reported in the second quarter of 2014. This breakeven net result came despite a 6.2% increase in revenue to €1.76 billion. Reported operating income for the quarter was €19 million, up from €3 million in 2Q14. However, after taking into account […]
  • David Harris
  • July 28, 2015
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