From the official FEDEX statement :
"Non-financial Covenants
(...)
Recognizing the significant value of TNT Express' operations, infrastructure, people and expertise in Europe, Amsterdam/Hoofddorp will become the European regional headquarters of the combined companies. Liege will be maintained as a significant operation for the group going forward. In addition, TNT Express’ operations as a European air carrier will be divested to address applicable airline ownership regulations. Where permitted by regulation, FedEx intends to transition TNT Express’ intercontinental air operations to FedEx."
FedEx - FedEx and TNT Express Agree on Recommended All-Cash Public Offer for All TNT Express Shares