ASL Aviation Group (ASL) signed (16-Nov-2012) an agreement to acquire TNT Airways and Pan Air Líneas Aéreas from TNT Express. ASL said the integration of the airlines will "strengthen the company’s capabilities and ensure that it continues to provide customers with first class and reliable professional service. This transaction represents a unique opportunity for ASL to be in a position to provide services to the major integrators and assert itself as the neutral provider of airline services to the major express integrators in Europe." ASL also owns Air Contractors, Europe Airpost and Safair. The transfer is conditional on, and will become effective immediately prior to, completion of the proposed merger between UPS and TNT Express. The change of ownership and control will ensure continuity of TNT Express operations after the merger, in compliance with EU airline ownership and control rules. TNT Express interim CEO Bernard Bot said, "We have found a new ownership and control structure that secures the future of the airlines, ensures service continuity and safeguards jobs in Liège. This is an important step towards completion of the proposed UPS-TNT Express merger and a positive outcome for the airline employees." [more - original PR - ASL Aviation Group] [more - original PR - TNT Express]
ASL Aviation Group to acquire TNT Airways and Pan Air Líneas Aéreas
You may also be interested in the following articles...
Airport pairs: Western Europe-US shows the value of open skies as routes and new entry proliferate
For Western Europe there is no bigger long haul market than North America. In terms of the number of airport pairs between the countries of Western Europe and long haul destination countries, connectivity to the United States dominates. There are more direct routes between Western Europe and the US than there are between Western Europe and the whole of Asia Pacific.
This report presents high level data on the numbers of airport pairs between each Western European country and the US and how these number have changed. EU-US liberalisation in 2008 has stimulated growth in the number of direct connections, although the global economic downturn impeded this for a while. However, the additional routes have not been spread evenly across Western European countries.
Since 2010, additional route numbers from Western Europe to the US have been greatest from the largest markets – the UK and the US – and from the smaller countries, particularly Ireland, Iceland and Norway. Countries in between, including France, Italy, Spain and the Netherlands, have hardly added any new US routes at all.
IAG lowers plans for capacity growth, fleet investment & profit, but keeps return on capital target
IAG's Capital Markets Day on 4-Nov-2016 was the first since its formation in 2011 when it lowered any of its medium term financial targets. It cut its 2016-2020 average EBITDAR goal, in spite of adding in Aer Lingus for the first time. This followed two cuts to 2016 operating profit guidance during the course of this year, as a result of "a tough operating environment". It has been hit by adverse currency movements, mainly resulting from the UK's Brexit vote, in addition to ATC strikes and terrorist events.
To its credit, IAG has responded to the more challenging trading conditions by lowering its planned capacity growth and capital expenditure during its 2016-2020 strategic plan. These steps are necessary if it is to have a chance of meeting its ambitious goal to sustain a 15% return on invested capital. This target is unchanged, despite the lower profit outlook.
In 3Q2016, IAG's rolling four quarter return on capital fell, after rising more or less continuously since it began to target this measure in 2013. It has consistently been more profitable than either of its two main European legacy airline group rivals (Air France-KLM and Lufthansa). Nevertheless, the downward step highlights the challenge in meeting its own demanding target.