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TNT Airways is a charter airline based at Liège Airport in Belgium. Wholly-owned by Dutch global cargo, mail and logistics corporation TNT NV, TNT Airways has interests in airport services, air cargo sales, passenger charter and cargo charter. Cargo carriage is the largest revenue source for the airline, with the airline serving destinations across Europe, Asia and Africa. The airline also offers ACMI contracts to airlines and tour operators.
Location of TNT Airways main hub (Liege Airport)
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UPS believes now is the time to seize an opportunity to buy TNT Express to significantly bolster its competitive stance in Europe. UPS assures despite Europe’s shaky economic state, the continent is a growth vehicle for the company, and believes it can capitalise on TNT’s vast European road network. UPS also gains key access to the powerhouse of Brazil, and remains confident of TNT’s success in turning around its operations in the country.
The proposed USD6.8 billion purchase of TNT by UPS is the largest acquisition in its 105-year history, and pairs well the recent investments UPS has made in expanding its Worldport hub in Louisville, Kentucky; completing a USD200 million expansion project at is Cologne, Germany hub set for completion in 2013; the 2010 opening of its intra-Asia hub in Shenzhen and the 2008 opening of its Shanghai hub, UPS CEO Scott Davis tells investors. TNT Express’s air hub is located at Liege, Belgium.
European airlines reported single-digit growth last year - a welcome improvement from 2009's depressed level - but 2010 was a lacklustre year overall. Full year data has been released by the Association of European Airlines (AEA), the European Low Fares Airline Association (ELFAA) and EUROCONTROL. As noted by EUROCONTROL, growth across the continent last year was driven mainly by LCCs.
With China’s GDP surging in the first half of 2010 in response to a stronger global economy, it is no surprise that the Chinese air freight market is going from strength to strength, as the country’s manufacturing sector recovers at a cracking pace following the global financial downturn. But the Chinese air freight segment, still in its formative stages, is highly fragmented. At the beginning of the year, the CAAC stated it would focus on the development of the country’s cargo industry and encourage cargo airlines to undergo mergers and acquisitions, restructuring and business cooperation. Furthermore, in its Development Strategic Plan, the CAAC stated it plans to develop at least one internationally competitive airline company and one internationally competitive cargo airline by 2030. In this article, we review the most recent developments of China's air freight market participants.