Air, Business, Freight News, Logistics

More merger concessions from UPS and TNT

[ December 3, 2012   //   ]

UPS and TNT Express said they would sell assets and open up their air networks on 30 November in a bid to assuage Brussels regulators in their bid to get approval for their planned merger. However, the express delivery companies gave few other details. According to press reports, UPS has been in talks with the Royal Mail, La Poste in France and FedEx about selling some assets.

The submission extends the EC’s review period by 15 business days to 5 February, the companies added.

Earlier, TNT said it would sell all its shares in TNT Airways and Pan Air Lineas Aereas, respectively its Belgian and Spanish-based air subsidiaries to ASL Aviation. ASL, 51% owned by shipping company Compagnie Maritime Belge is based in Dublin, Ireland, operates a fleet of 90 passenger and freight aircraft. The move was seen as a precursor to the takoever of TNT by UPS, as current regulations to not allow more than 49% foreign ownership of EU-based airlines.

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