TNT to Sell Airline Operations to ASL Aviation for Undisclosed Sum
February 05 2016 - 9:49AM
Dow Jones News
TNT Express N.V. (TNTE.AE) said Friday it is selling its airline
operations--TNT Airways and Pan Air Lineas Aereas--to ASL Aviation
Group for an undisclosed sum.
The delivery service firm said the sale is conditional on the
completion of FedEx's intended acquisition of TNT, which is
expected in the first half of 2016. It is another step towards
closing of the FedEx offer to acquire TNT, it added.
In conjunction with the transaction, ASL Aviation Group has
entered a multi-year service agreement with TNT to operate flights
for the intended FedEx-TNT combination. ASL Aviation Group will
continue to serve multiple airline customers, TNT said.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
February 05, 2016 09:34 ET (14:34 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.