ASL Aviation Group to acquire TNT's airline operations

ASL Aviation Group reached (05-Feb-2016) an agreement to acquire the airline operations of TNT Express, comprising TNT Airways and Pan Air Líneas Aéreas. ASL also entered a multi-year service agreement to operate services for the intended FedEx-TNT combination. The change of ownership and control of TNT's airline operations will ensure continuity of service and compliance with EU airline ownership and control rules. ASL expects the airlines will maintain contracts with partner airlines, contractors and suppliers. The agreement is conditional on the completion of the acquisition of TNT by FedEx, which is expected in 1H2016. TNT operates about 35 aircraft, utilises about 20 wet leased aircraft to supplement its operations and employs about 580 airline staff, including air crew and ground staff. [more - original PR]