Prospects for ASL buy-out of TNT Airways unclear

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Irish-based ASL Aviation Group is yet to disclose its response to the collapse of the UPS-TNT Express merger, which appears to scupper ASL's planned acquisition of TNT Airways.

ASL had been due to take over TNT Airways, as well as Spanish operation Pan Air Lineas Aereas, on condition that the UPS-TNT merger proceeded.

But UPS is to withdraw its proposal to acquire TNT following notification that the European Commission is to block the takeover.

ASL's acquisition of TNT Airways had been negotiated in order to ensure the carrier continued to meet European requirements on airline ownership.

While ASL acknowledges that the acquisition was conditional on the UPS-TNT merger, it declines to comment on the situation.

TNT Airways and Pan Air would have been added to the other ASL air transport companies, which comprise Ireland's Air Contractors, France's Europe Airpost and South African operator Safair.