ASL swoops on TNT fleet

ASL Aviation has agreed to purchase TNT Airways and Pan Air Líneas Aéreas, which the express firm has agreed to sell as part of its takeover by FedEx, for an undisclosed sum.
The deal will see Dublin-headquartered ASL, which was the expected destination of the fleet, take over the flights operated by TNT Airways and Pan Air Líneas Aéreas from the moment the sale is completed.
ASL expects that the airlines will maintain contracts with partner airlines, contractors and suppliers. In conjunction with the transaction, ASL Aviation Group has entered a multi-year service agreement with TNT to operate flights for the intended FedEx-TNT combination.
ASL Aviation Group chief executive Hugh Flynn said: "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.
“We look forward to welcoming the teams at TNT Airways and Pan Air to ASL Aviation and having them become a valued part of our group.
“As a global aviation services provider with operations on 6 continents and a post transaction fleet of more than 130 aircraft, we will continue to use our strength and stability to offer the best possible service to all of our customers.”

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 going forward.

"Employees of TNT Airways and Pan Air Líneas Aéreas will become part of ASL Aviation Group. ASL Aviation Group will respect the employees’ current terms and conditions of employment and intends to maintain the TNT Airways headquarters in Liège," the companies said.
The deal is conditional on the completion of FedEx’s intended acquisition of TNT, which is expected in the first half of 2016.
The deal comes shortly after ASL Aviation reached a funding agreement worth $110m from two banks for “ongoing growth and expansion”.
ASL had been a front runner in the race to acquire the fleet after it agreed to buy the two TNT airlines for an undisclosed sum when United Parcel Service (UPS) looked certain to acquire the Dutch parcel operator in 2012, until the UPS takeover deal was scuppered by European Commission regulators in Brussels.
FedEx agreed to sell the fleet in order to appease competition authorities over the TNT takeover.
The PanAir fleet consists of nine BAe 146-200/300, while TNT Airways lists 25 aircraft, including 14 737-400SF, four 747-400 ERF, three 777-200 LRF, three 737-300, and two 757-200 models.
TNT said the aircraft are primarily its own, although some are from third-party operators that are contracted for certain routes.
On Wednesday of this week, it was revealed that ASL had signed up for three 737-400SF freighter conversions from Aeronautical Engineers Inc.

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