Mark Hilliard
Dublin based ASL Aviation Group has acquired the airline operations of TNT Express, comprised of TNT Airways in Belgium and Pan Air Líneas Aéreas in Spain.
The acquisition bring the total number of airlines at ASL Aviation to nine while the addition of 35 aircraft increases its overall fleet to over 130 cargo and passenger planes.
The newly acquired services are expected to maintain current contracts, ASL said in a statement on Tuesday.
Its offer to acquire the two TNT Express airlines was announced in February and was conditional on the intended acquisition of TNT Express by FedEx which went ahead on May 18th.
A total of 580 employees from the newly acquired airlines will transfer to ASL as a part of the deal, increasing its global staff to 2,500.
Chief executive Hugh Flynn said: "This is a key strategic step in the continued growth of ASL Aviation Group and I am delighted to welcome the people of TNT Airways and Pan Air.
“They have made a huge contribution to their airlines and they have now become valued members of our global family of airlines operating on six continents.”