19-Nov-2012 8:39 AM

ASL Aviation Group to acquire TNT Airways and Pan Air Líneas Aéreas

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]

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