FedEx buys TNT Express
Thread Starter
FedEx buys TNT Express
This just in...
FedEx, TNT Express reach agreement on all-cash offer for TNT - MarketWatch
Last line of the report doesn't read well
FedEx, TNT Express reach agreement on all-cash offer for TNT - MarketWatch
Last line of the report doesn't read well
Join Date: Oct 2002
Location: In my seat
Posts: 822
Likes: 0
Received 0 Likes
on
0 Posts
What Will happen then to the TNT crews?
TNT Airways is Belgium's second largest airline.
If Americans would replace European pilots, working in Europe, that would be a criminal consequence of EU incompetence to protect their own interests. Mind you, I do not blame US carriers to protect and promote themselves.
What is the deal at Fedex regarding operation of Fedex flights by non-FedEx carriers?
TNT Airways is Belgium's second largest airline.
If Americans would replace European pilots, working in Europe, that would be a criminal consequence of EU incompetence to protect their own interests. Mind you, I do not blame US carriers to protect and promote themselves.
What is the deal at Fedex regarding operation of Fedex flights by non-FedEx carriers?
Join Date: May 1999
Location: Unionville, PA, USA
Age: 76
Posts: 117
Likes: 0
Received 0 Likes
on
0 Posts
New York Times
The FedEx deal also requires regulatory approval, and the companies said they were “confident” that any antitrust concerns could be addressed. As part of the transaction, TNT has agreed to sell its airline operations.
FedEx to buy TNT
FedEx to buy rival TNT Express for ?4.4bn - BBC News
"That is below the threshold of about 30% that European regulators would normally use... However, there will be a pressure on TNT to sell off some of its airline operations," he added.
Must have some implications for the various cargo contractors in the future.
"That is below the threshold of about 30% that European regulators would normally use... However, there will be a pressure on TNT to sell off some of its airline operations," he added.
Must have some implications for the various cargo contractors in the future.
Join Date: Sep 2010
Location: earth
Posts: 1,341
Likes: 0
Received 0 Likes
on
0 Posts
This is about greater distribution in the EU for FedEx. Would not be surprised if it is not business as usual for TNT employees, they just might be working with greater volumes of packages many of them purple and white. FedEx has already invested billions in global distribution.
Let me get this straight: In order to get approval of their plan, FedEx is proposing to divest TNT Airways. But logic dictates they'll still need to deliver a lot of packages by air; far more than their current European fleet will support. This can only mean that FedEx are planning to carry the additional volumes using it's own fleet.
Shall one therefore deduce, that in order to comply with anti-trust regulation, the answer is to lay-off a sizeable number of EU based crew members, and replace same with a near-equal number of US based? To achieve what, exactly, when it comes to competition?
Shall one therefore deduce, that in order to comply with anti-trust regulation, the answer is to lay-off a sizeable number of EU based crew members, and replace same with a near-equal number of US based? To achieve what, exactly, when it comes to competition?
Join Date: Sep 2000
Location: Planet Earth
Posts: 276
Likes: 0
Received 0 Likes
on
0 Posts
This should be interesting. Expect to see more N - registered 757F/767F/777F aircraft throughout the EU , more American FedEx pilots ( sending their taxes back to America ) , more FedEx vehicles on the roads as their market share nearly doubles and much more intra-EU competition. Business in the EU express market is about to get very competitive , good for the consumer. Bad for EU pilots. Hopefully the TNT flight crews will receive a decent severance package.
Join Date: May 2000
Location: Seattle
Posts: 3,196
Likes: 0
Received 0 Likes
on
0 Posts
However, the terms of the takeover allow for a competitor to make an offer within the next eight weeks and for the current deal to be terminated if that offer exceeds the existing proposal by 8%.
Join Date: Feb 2010
Location: Belgium
Posts: 4
Likes: 0
Received 0 Likes
on
0 Posts
TNT Airways will be sold to an European company. Several have already voiced interest . An Irish (ASL) who already had an agreement when UPS was near to buy TNT, 2 years ago, could well be back in the picture (the press)
ASL are already dry and wet leasing a/c to several express companies even La Poste, DHL EAT, ...why not fdx
ASL are already dry and wet leasing a/c to several express companies even La Poste, DHL EAT, ...why not fdx
Join Date: Feb 2008
Location: in my country
Posts: 168
Likes: 0
Received 0 Likes
on
0 Posts
According to some friends from PanAir/TNT, "November " registered aircraft will no longer fly intra european routes, as per EU law coming into force. I believe all american pilots will have to get an EASA full ATPL licence as well as a european passport in order to continue to fly in Europe. Otherwise they'll have to go back to America or wherever. Game is over. Tic tac tic tac.
Maybe that is why fedex is trying to buy european airlines, so that they can get european pilots (and cheaper than fedex pilots), under european contract, european tax and EASA regulation. Who knows.
Maybe that is why fedex is trying to buy european airlines, so that they can get european pilots (and cheaper than fedex pilots), under european contract, european tax and EASA regulation. Who knows.
Join Date: Sep 2000
Location: Planet Earth
Posts: 276
Likes: 0
Received 0 Likes
on
0 Posts
Fred Smith has too many ( Republican ) politicians in his pocket to allow EU labour law to supplant the FedEx pilot`s union insistence that FedEx freight be flown by FedEx pilots. Bilaterals win the day. Nice try though.
Join Date: Sep 2002
Location: somewhere
Posts: 80
Likes: 0
Received 0 Likes
on
0 Posts
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
"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
Join Date: Oct 2002
Location: In my seat
Posts: 822
Likes: 0
Received 0 Likes
on
0 Posts
Where did you get this info SeaSexSun?
I would love this to be true, but as far as I know, the EU still has not made the decision to consider intra-EU flights as Cabotage thus not allowing FEDEX and UPS to use US crews and aircraft on intra-EU routes.
I do know though that this is being worked on thankfully
I would love this to be true, but as far as I know, the EU still has not made the decision to consider intra-EU flights as Cabotage thus not allowing FEDEX and UPS to use US crews and aircraft on intra-EU routes.
I do know though that this is being worked on thankfully
Join Date: May 2009
Location: Confoederatio Helvetica
Age: 69
Posts: 2,847
Likes: 0
Received 0 Likes
on
0 Posts
For this consumer this is not a good thing. It removes one competitor from the market.
TNT probably provides the worse customer 'experience' today, but I don't see that improving by painting FedEx on the sides of their trucks.
We need more competitors, not fewer.
TNT probably provides the worse customer 'experience' today, but I don't see that improving by painting FedEx on the sides of their trucks.
We need more competitors, not fewer.