TNT Express has agreed the conditional sale TNT Airways and Pan Air Lineas Areas to ASL Aviation Group.
The transfer is conditional on and will become effective immediately prior to completion of the proposed UPS-TNT Express merger.
This change of ownership and control will ensure service continuity of the TNT Express operations after the completion of the proposed merger, in compliance with EU airline ownership and control rules.
ASL Aviation Group will become a third-party provider of the combined UPS-TNT Express group and will be invited to bid for all of the combined group’s outsourced air business in Europe when this becomes open to tender.
Bernard Bot, interim chief executive officer of TNT Express, said: “This is an important step towards completion of the proposed UPS-TNT Express merger and a positive outcome for the airline employees.”