Pan Air was a Spanish cargo carrier based in Madrid Barajas Airport. The company was part of TNT Express, the air cargo unit of TNT Holdings NV. In Feb-2016, ASL Aviation Group reached an agreement to acquire the airline operations of TNT Express, comprising TNT Airways and Pan Air Lineas Aereas. ASL also entered a multi-year service agreement to operate services for the intended FedEx-TNT combination, subject to the completion of the acquisition. FedEx completed the acquisition on 26-May-2016, allowing ASL to acquire TNT Express.
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