UPS abandons purchase of TNT

American freight giant UPS withdrew its offer to purchase TNT Express for US$6.9 billion after it became clear that European Union authorities would block the deal on anti-trust grounds. As part of the deal, TNT’s two airline subsidiaries, TNT Airways and Pan Air Líneas Aéreas, were to have been sold to ASL Aviation Group. As that sale was conditional on completion of the UPS-TNT Express merger being approved, it will now also not proceed. Both TNT Airways and Pan-Air, therefore, will continue to operate as before. TNT operates two BAe 146-200QTs and seven 300QTs (two more 200QTs are in storage), while Pan-Air operates six 200QTs and one 300QT.

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