Dublin-based ASL Aviation Group has confirmed the acquisition of the airline operations of TNT Express for an undisclosed sum.
Two airlines, TNT Airways (Belgium) and Pan Air Líneas Aéreas (Spain), have been acquired as part of the deal.
They will now be renamed ASL Airlines Belgium and ASL Airlines Spain and will join the ASL Aviation Group, bringing the number of airlines in the group to nine.
ASL's offer for the two airlines was announced in February and was conditional on the intended purchase of TNT Express for FedEx. Earlier this month, the FedEx offer was completed.
ASL also said it has entered a new service agreement to operate flights for the new FedEx-TNT combination.
The addition of 35 new aircraft in the two acquired airlines brings the total ASL fleet to over 130 cargo and passenger planes, ranging from ATR42 turbo props to B747 jumbo jets.
Hugh Flynn, the chief executive of ASL Aviation Group, said the deal is a key strategic step in the continued growth of the company.
"We operate in a highly competitive market and our continued growth is founded in our mission to be the preferred neutral service provider and to always exceed our customers' expectations," he added.