Parcel-delivery giant UPS has agreed to buy TNT Express for US$6.8 billion. Negotiations began in February, when UPS made an unsolicited offer of US$6.5 billion. Although that offer was rejected, negotiations continued, culminating in the deal announced on 19 March. Integration of TNT’s network into UPS’ operations is expected to take several years. One question to be resolved is whether to maintain TNT’s cargo hub at Liège or consolidate operations at UPS’s european hub at Köln. TNT Express’ subsidiaries TNT Airways and Pan Air Líneas Aéreas operate 18 BAe 146QTs (ten series 200QTs and eight series 300QTs) from Liège.