ASL Aviation to acquire TNT Airways and Pan Air

Acquisition of TNT Airways and Pan Air Lineas Aereas (Spain) consolidates the position of ASL Aviation Group in air freight business
 
Consolidation of the international air freight industry has gained a facet. ASL Aviation Group will be the new owner of TNT Airways (Brussels) and Pan Air Lineas Aereas (Madrid). The agreement about the takeover of the two companies by TNT Express was signed last week.
 
Through this transaction ASL Aviation Group with its headquarters in Dublin gains access to a dense network of air freight liner services in Europe. So far TNT Airways was the ‘house carrier’ of TNT Express. The core activity was a liner service from and to Liege, which shall be continued by ASL Aviation. Apart from this the management expects synergies with the existing fleet in the segments flight operations as well as service and maintenance.
 
With 90 aircraft the ASL Aviation Group transported 814,000 passengers and 314,048 tonnes of air freight last year, carried by the brands Air Contractors, Europe Airpost and Safair (South Africa). Their 1,200 employees generated turnover at the amount of EUR 407.28 million. The share capital is held by CMB Compagnie Maritime Belge (51 per cent) and by 3P Air Freighters (49 per cent).