http://www.nasdaq.com/article/tnt-expre ... KXyuLSSjqg
TNT Express Sells Airline To ASL Aviation Group
AMSTERDAM--TNT Express NV (TNTE.AE) Friday said it reached an agreement for the sale of 100% of the equity interest in TNT Airways SA and Pan Air Lineas Areas SA to ASL Aviation Group.
MAIN FACTS:
- The transfer is conditional on and will become effective immediately prior to completion of the proposed acquisition by United Parcel Service Inc (UPS) of TNT Express.
- No financial details were provided.
- 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 has entered into a service contract that will maintain service continuity.
- ASL Aviation Group will become a key 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.
- Almost all employees of the airlines will stay with the airlines except for a small number of employees who will transfer to the TNT Express' Liège hub due to the nature of their work.
- TNT Express does not expect the airlines ownership transfer to impact activities at TNT Express' hub in Liège for at least one year following completion of the proposed UPS-TNT Express merger.
UPS makes unsolicited bid on TNT Express
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Boeing767copilot
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liege-bierset
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Re: UPS makes unsolicited bid on TNT Express
Full PR released by TNT Express.
http://www.tnt.com/corporate/en/data/pr ... group.html
Is it good news for LGG/Belgian aviation ? Still a lot of unknown pending.
Maybe off-topic but is UE going to keep UPS, FDX, ABX performing (illegal ?) cabotage flights using American pilots within Europe ???
http://www.tnt.com/corporate/en/data/pr ... group.html
Is it good news for LGG/Belgian aviation ? Still a lot of unknown pending.
Maybe off-topic but is UE going to keep UPS, FDX, ABX performing (illegal ?) cabotage flights using American pilots within Europe ???
Re: UPS makes unsolicited bid on TNT Express
"At least one year...". And after one year? I fear the worst! Although it is nice to know that ASL is a Belgian company and might have some reluctance to cut jobs or transfer activities in another country.Boeing767copilot wrote:TNT Express does not expect the airlines ownership transfer to impact activities at TNT Express' hub in Liège for at least one year following completion of the proposed UPS-TNT Express merger.
André
ex Sabena #26567
ex Sabena #26567
Re: UPS makes unsolicited bid on TNT Express
Totally agree, if you mention at least one year... you already have something in your mind...sn26567 wrote:"At least one year...". And after one year? I fear the worst!
Looks like ASL already owns Europe Airpost, 19x737...
Re: UPS makes unsolicited bid on TNT Express
Europe AirPost in France, Air Contractors in Ireland and Safair in South Africa. It is not a small company and has a lot of activities in freight, next to some passenger activities as well.Nevihta wrote:Looks like ASL already owns Europe Airpost, ...
http://www.aslaviationgroup.com/
André
ex Sabena #26567
ex Sabena #26567
Re: UPS makes unsolicited bid on TNT Express
Looks like they know about the business...sn26567 wrote:Europe AirPost in France, Air Contractors in Ireland and Safair in South Africa. It is not a small company and has a lot of activities in freight, next to some passenger activities as well.
http://www.aslaviationgroup.com/
I was a little "shocked" when reading
It clearly means that they have no intention of taking ASL as a preferred partner... if they can bid as any other company...- ASL Aviation Group will become a key 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.
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Boeing767copilot
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Re: UPS makes unsolicited bid on TNT Express
And don't forget:
the main shareholder of ASL Group is the Belgian CMB group (Compagnie Maritime Belge)
ASL Aviation Group’s strength lies in the support of our two shareholders.
Compagnie Maritime Belge (CMB), with 51% shareholding, is a major Belgian shipping company based in Antwerp. CMB was founded in 1895 and its shares are quoted on Euronext Brussels and are also included in the Next 150 index and the BelMid.
3P Air Freighters Ltd, with 49% shareholding, is an aircraft leasing company incorporated in Dublin and is sponsored by the Private Equity section of Petercam S.A./N.V. the leading Brussels-based independent financial group.
the main shareholder of ASL Group is the Belgian CMB group (Compagnie Maritime Belge)
ASL Aviation Group’s strength lies in the support of our two shareholders.
Compagnie Maritime Belge (CMB), with 51% shareholding, is a major Belgian shipping company based in Antwerp. CMB was founded in 1895 and its shares are quoted on Euronext Brussels and are also included in the Next 150 index and the BelMid.
3P Air Freighters Ltd, with 49% shareholding, is an aircraft leasing company incorporated in Dublin and is sponsored by the Private Equity section of Petercam S.A./N.V. the leading Brussels-based independent financial group.
Re: UPS makes unsolicited bid on TNT Express
Wasn't Petercam part of the CargoB business ?
Re: UPS makes unsolicited bid on TNT Express
So now it's a full belgian company. Nice.
Wonder how they will deal with the regional stress some people like to create once in a while.
Wonder how they will deal with the regional stress some people like to create once in a while.
Re: UPS makes unsolicited bid on TNT Express
What do you mean with this line? Example please, mr mod.. Be the first by already having stated that line in this post..........Acid-drop wrote:Wonder how they will deal with the regional stress some people like to create once in a while.
Re: UPS makes unsolicited bid on TNT Express
Wouldn't be so happy with that...Acid-drop wrote:So now it's a full belgian company. Nice.
Wonder how they will deal with the regional stress some people like to create once in a while.
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liege-bierset
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Re: UPS makes unsolicited bid on TNT Express
ASL outlines acquisition plans as TNT and UPS wait on merger
The landscape of Europe’s express market will change dramatically if the EC gives the green light to UPS’s takeover of TNT, not least in the express feeder segment, where significant consolidation is also poised to get underway.
Industry observers had assumed that TNT’s subsidiaries, TNT Airways and Spain’s Pan Air, which had to be sold to a European company under EU airline ownership rules, would take on the feeder services of the newly merged UPS. But, said ASL’s CEO Hugh Flynn, in an interview with The Loadstar, this may not be the case.
“In the short-term we have a contract with UPS, but ultimately there are no guarantees of future business with it,” he said. “We are contracted to do what TNT was doing, but as it becomes UPS the form and contract will change. And how it changes is the million dollar question.”
A spokesman for UPS confirmed that ASL will continue TNT’s operations in the short term. “ASL will continue all TNT Express routes for the combined UPS and TNT Express organization. It is expected that the airlines’ ownership transfer will have no impact at the TNT Express hub in Liege for at least one year.”
After that period, added the spokesman, “ASL will become a key 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.”
Mr Flynn added: “The network will take on a different shape, but a lot of what happens will depend on UPS and its long-term requirements.”
Much more in The Loadstar
The landscape of Europe’s express market will change dramatically if the EC gives the green light to UPS’s takeover of TNT, not least in the express feeder segment, where significant consolidation is also poised to get underway.
Industry observers had assumed that TNT’s subsidiaries, TNT Airways and Spain’s Pan Air, which had to be sold to a European company under EU airline ownership rules, would take on the feeder services of the newly merged UPS. But, said ASL’s CEO Hugh Flynn, in an interview with The Loadstar, this may not be the case.
“In the short-term we have a contract with UPS, but ultimately there are no guarantees of future business with it,” he said. “We are contracted to do what TNT was doing, but as it becomes UPS the form and contract will change. And how it changes is the million dollar question.”
A spokesman for UPS confirmed that ASL will continue TNT’s operations in the short term. “ASL will continue all TNT Express routes for the combined UPS and TNT Express organization. It is expected that the airlines’ ownership transfer will have no impact at the TNT Express hub in Liege for at least one year.”
After that period, added the spokesman, “ASL will become a key 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.”
Mr Flynn added: “The network will take on a different shape, but a lot of what happens will depend on UPS and its long-term requirements.”
Much more in The Loadstar
André
ex Sabena #26567
ex Sabena #26567
Re: UPS makes unsolicited bid on TNT Express
UPS’s aborted TNT acquisition is formally blocked by EU
United Parcel Service Inc. (UPS)’s aborted takeover bid for TNT Express NV (TNTE) was formally blocked by European Union regulators because it failed to find a suitable buyer for TNT’s assets to replace it as a rival for delivery services.
FedEx Corp. (FDX) was “the only possible suitable purchaser” among delivery firms with air-freight services, the EU said, because any bid by DHL would also lead to similar antitrust concerns. FedEx told the EU it wasn’t interested in buying any of the TNT assets, said Commissioner Almunia, the EU’s antitrust chief. Almunia also said he was surprised UPS decided to withdraw from the deal earlier this month because they still had time to resolve the EU’s concerns.
UPS will pay a fee of 200 million euros to TNT within 10 days of terminating the deal.
More from Bloomberg
United Parcel Service Inc. (UPS)’s aborted takeover bid for TNT Express NV (TNTE) was formally blocked by European Union regulators because it failed to find a suitable buyer for TNT’s assets to replace it as a rival for delivery services.
FedEx Corp. (FDX) was “the only possible suitable purchaser” among delivery firms with air-freight services, the EU said, because any bid by DHL would also lead to similar antitrust concerns. FedEx told the EU it wasn’t interested in buying any of the TNT assets, said Commissioner Almunia, the EU’s antitrust chief. Almunia also said he was surprised UPS decided to withdraw from the deal earlier this month because they still had time to resolve the EU’s concerns.
UPS will pay a fee of 200 million euros to TNT within 10 days of terminating the deal.
More from Bloomberg
André
ex Sabena #26567
ex Sabena #26567
Re: UPS makes unsolicited bid on TNT Express
As a result of the failure of the merger into UPS, TNT Express will cut 4000 jobs. It is also mentioned that their daughter TNT Airways will also reduce the size of the fleet. Any idea how this will happen and the impact on the employment at Liège Airport?
André
ex Sabena #26567
ex Sabena #26567
Re: UPS makes unsolicited bid on TNT Express
They talk about "natural" leave for Liège.
My messages reflect my personal opinion which may be different than yours. I beleive a forum is made to create a debate so I encourage people to express themselves, the way they want, with the ideas they want. I expect the same understanding in return.
Re: UPS makes unsolicited bid on TNT Express
My messages reflect my personal opinion which may be different than yours. I beleive a forum is made to create a debate so I encourage people to express themselves, the way they want, with the ideas they want. I expect the same understanding in return.
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Boeing767copilot
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Re: UPS makes unsolicited bid on TNT Express
TNT Airways (3V, Liège Bierset (LGG)) will also move its six times weekly scheduled B777-F service from Liège via Dubai International (DXB) to Hong Kong Chep Lap Kok International (HKG) from Dubai International to Dubai Jebel Ali Al Maktoum International (DWC) when its partner Emirates (EK, Dubai International (DXB)) will move its SkyCargo full freighter operations to the new airport. The exact date of the proposed move of both carriers is not known yet.
source: CH-Aviation
source: CH-Aviation
Re: UPS makes unsolicited bid on TNT Express
From a reliable source, I have learned that there will be no fleet reductions.sn26567 wrote:It is also mentioned that their daughter TNT Airways will also reduce the size of the fleet.
L'Echo also writes that there will be no job cuts at Liège: http://www.lecho.be/actualite/entrepris ... .art?ckc=1
André
ex Sabena #26567
ex Sabena #26567
Re: UPS makes unsolicited bid on TNT Express
UPS has decided today (8 April 2013) to appeal the decision of the European Commission not to allow it to take over TNT Express. UPS wants the Commission to better evaluate the competition in the European market.
André
ex Sabena #26567
ex Sabena #26567