ASL Aviation Acquires TNT Express Operations
ASL Airlines, the passenger and freight airline formerly known as Air Contractors, has recently completed the acquisition of the airlines operations of TNT Express, which is comprised of Pan Líneas Aéreas Spain as well as TNT Airways Belgium. These two recently acquired airlines will be renamed as ASL Airlines Space and ASL Airlines Belgium respectively.
On February 5, 2016, ASL Airlines made the announcement that the airlines would be offering to acquire both of the TNT Express airlines. This acquisition was conditional on FedEx’s intended acquisition of TNT Express. On May 18 of 2016, FedEx’s offer to buy TNT Express was deemed unconditional.
ASL Aviation Group intends on continuing to serve its multiple airline customers, while ASL Aviation Group has already entered into a multi-year service agreement in order to operate flights for the new FedEx-TNT combination. ASL Aviation Group’s acquisition of Pan Air Líneas Aéreas and TNT Airways increases the total number of airlines in the Irish based aviation group to nine.
“A staff of 580 people from the two airlines have transferred to ASL as a part of the acquisition and the total number of global staff in the ASL group is now 2,500 from 51 nationalities,” read an article from Stat Trade Times. “The employees’ current terms and conditions of employment will be respected and it is intended that the TNT Airways facilities in Liège, Belgium and Madrid, Spain will be maintained as the corporate offices of ASL Airlines Belgium and ASL Airlines Spain. TNT Express’ Liège hub (Eurohub) is not part of the airlines sale.”
The financial terms of the entire sale has not yet been disclosed.