TNT Express sells airfreight operations ahead of UPS takeover
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TNT Express sells airfreight operations ahead of UPS takeover

TNT Express sells airfreight operations ahead of UPS takeover

TNT Express, which has agreed to be bought by US rival United Parcel Service (UPS), has conditionally sold its airlines operations to ASL Aviation Group, Reuters has reported. The sale depends on the completion of the merger of the two companies, the Dutch company said. TNT Express and UPS had said in their takeover agreement that TNT's airlines would be sold to comply with European Union rules that forbid a non-EU entity from owning or controlling 50% or more of an EU airline operator.

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