TNT to sell airlines to ASL Aviation

As part of the rationalisation of its assets while being taken over by FedEx, European international delivery company TNT is to sell most of its airline operations to ASL Aviation Group. TNT Airways and Air Líneas Aéreas are going to be sold when the deal to absorb TNT into the FedEx operation takes place later this year.

A statement from TNT said of the deal that 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” and will be “another step towards closing of the FedEx offer to acquire TNT”.

ASL Aviation Group will take over the flights operated by TNT Airways and Pan Air Líneas Aéreas from the moment the sale is completed and employees of both airlines will become part of the ASL Aviation Group.

The new owners expect the airlines will maintain contracts with the same businesses, contractors and suppliers they did before the takeover. ASL will also begin a multi-year service agreement with TNT to operate flights for the new company that is formed when the original owners are taken over by FedEx.

Tex Gunning, Chief Executive Officer of TNT, said: “I am really happy to report that great progress is being made in planning the integration of FedEx and TNT. In anticipation for closing, we had to find a new owner for TNT’s airlines to comply with aviation regulations. With ASL Aviation Group, we have found an experienced aviation group that can meet the high service standards that we have implemented at TNT over the last two years.”

Hugh Flynn, Group Chief Executive of ASL Aviation Group, added: “We are delighted to agree on this key strategic step in our growth and it underlines our commitment to be the preferred neutral aviation services provider to the intended FedEx-TNT combination once the transaction closes.”

TNT’s Liège hub (Eurohub) is not part of the airlines sale. It will be maintained as a significant operation for the intended FedEx-TNT combination.