Package delivery group TNT is selling its airline operations to the ASL Aviation Group, the Dutch firm said in a statement on Friday.
The sale has been forced because US express delivery group UPS, which wants to take over TNT Express, cannot become the owner of a European airline under EU regulations. The deal involves 46 aircraft and financial details were not disclosed.
ASL has a fleet of 90 aircraft and also carries out deliveries for TNT’s competitors DHL and Fedex, the Financieele Dagblad said.
The sale of TNT Express to UPS is proceeding slowly because of European Commission objections, largely on market dominance grounds.