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Martin Murray

UPS Will Have To Sell Airline

By March 26, 2012

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Last week UPS announced its largest acquisition with the purchase of the Dutch logistics company, TNT Express. As part of the $6.8 billion deal the combined company will have to divest itself of the aviation division of TNT, called TNT Airways, as the European Union (EU) has regulations that preclude foreign ownership of an airline. The sale of TNT Airways must be concluded before any UPS-TNT deal is completed.

TNT Airways operates out of Liège Airport in Belgium and has a fleet of over forty aircraft, including Boeing 777F, 757-PCF, 747-400, and 737-300F jets. TNT took delivery of their first 777 Freighter aircraft in July 2011.

The combined UPS-TNT company will have over 475,000 employees worldwide and increase UPS's international sales to around 36 percent of its total from the current 26 percent.

Read more about United Parcel Services here.

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Comments

April 13, 2012 at 11:24 am
(1) Paul says:

Good insight, thanks for the information.

April 17, 2012 at 6:50 am
(2) Les Turner says:

Interesting news for UPS. I wonder how this merger will sort itself out.

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