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TNT to sell off air arm

[ February 5, 2016   //   ]

TNT Express has agreed to sell its TNT Airways arm to ASL Aviation Group for an undisclosed sum. It is conditional on the completion of FedEx’s intended acquisition of TNT, expected in the first half of 2016. ASL will take over the flights and is expected to will maintain contracts with partner airlines, contractors and suppliers.

Sale of TNT’s air arm is an important element of meeting the demands of the competition authorities in Europe for FedEx’s takeover of the Netherlands-based express carrier.
TNT’s Liège hub is not part of the airlines sale and will be maintained as a significant operation for the combined FedEx-TNT operation.
Dublin-based ASL owns and operates about 100 freight and passenger aircraft transport with with seven Air Operators Certificates in Europe, Africa and Asia. It had revenues of €382 million in 2015.

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