Tag Archives: Boeing 777-200 LR

TNT Express stockholders approve the FedEx offer to acquire TNT

TNT Express (TNT Express N.V.) (TNT Airways) (Hoofddorp, Netherlands) stockholders today (October 5) approved the acquisition offer of FedEx Corporation (FedEx Express) (Memphis). The company issued this statement:

TNT Express logo

TNT Express N.V. (“TNT Express”) announces that the Extraordinary General Meeting of Shareholders (“EGM”) was held today, as per the agenda dated August 21, 2015.

At the EGM, the shareholders discussed the recommended public offer by FedEx Acquisition B.V., an indirect wholly-owned subsidiary of FedEx Corporation, for all issued and outstanding ordinary shares including ordinary shares represented by American depositary shares of TNT Express. The Executive Board and Supervisory Board of TNT Express restated their support and recommendation for FedEx’s offer, which is set to provide compelling benefits and opportunities to TNT’s customers, employees and shareholders. Accordingly, the Boards recommended to shareholders to tender their shares pursuant to the offer.

Furthermore, the general meeting resolved to adopt the following resolutions:

  • Conditional Asset Sale and Liquidation
  • Conditional amendment of TNT Express’ articles of association as per the Settlement Date
  • Conditional conversion of TNT Express in a B.V. and amendment of the Articles of Association as per the date of delisting from Euronext Amsterdam and pursuant to the conversion
  • Conditional appointment of Mr. D. Cunningham as member of the Supervisory Board as per the Settlement Date
  • Conditional appointment of Ms. C.P. Richards as member of the Supervisory Board as per the Settlement Date
  • Conditional appointment of Mr. D. Bronczek as member of the Supervisory Board as per the Settlement Date
  • Conditional appointment of Mr. D. Binks as member of the Executive Board as per the Settlement Date
  • Conditional appointment of Mr. M. Allen as member of the Executive Board as per the Settlement Date
  • Conditional amendment of the 2014 remuneration policy of the Executive Board to make changes to the remuneration of Mr. De Vries as per the Settlement Date
  • Conditional granting of full and final discharge from liability to all members of the Supervisory Board for their functioning until the date of the EGM, as per the Settlement Date: Mr A. Burgmans, Mr. S. Levy, Ms. M.E. Harris, Mr. R. King, Ms. M.A. Scheltema and Mr. S.S. Vollebregt
  • Conditional granting of full and final discharge from liability to all members of the Executive Board for their functioning until the date of the EGM, as per the Settlement Date: Mr L.W. Gunning and Mr. M.J. de Vries

As a result, FedEx Corporation issued this statement:

FedEx Corporation logo

FedEx Corporation has taken note of TNT Express N.V.’s (TNT Express) press release in relation to the Extraordinary General Meeting that took place today (the EGM) confirming that the shareholders of TNT Express approved all of the resolutions on the agenda. This release is made in connection with the recommended public offer by FedEx Acquisition B.V. (the Offeror) for all of the issued and outstanding ordinary shares in the capital of TNT Express, including all ordinary shares represented by American depositary shares (the Offer), as more fully described in the Offer Document.

“We appreciate that the shareholders of TNT Express approved the resolutions of TNT Express’ Extraordinary General Meeting,” said David Binks, Regional President Europe, FedEx Express. “We believe the combination of these two great companies will provide significant value to the employees, customers and shareowners of both TNT Express and FedEx, and we continue to work constructively with the regulatory authorities around the world to obtain clearance of the acquisition.”

EGM Resolutions and Offer Period

The Asset Sale and Liquidation Resolutions, the Conversion Resolution and the Governance Resolutions are conditional on the Offer being declared unconditional and the Settlement thereof. The Asset Sale and Liquidation Resolutions are also conditional upon the number of Shares tendered under the Offer, together with those Shares held by or committed to the Offeror or its affiliates and the Shares to which the Offeror or its affiliates are entitled, being less than 95% but at least 80% of TNT Express’ aggregate issued and outstanding ordinary share capital.

As a result of the Asset Sale and Liquidation Resolutions and the Conversion Resolution having been adopted, under the terms and subject to the conditions of the Offer, the minimum acceptance condition of the Offer will be 80% (and not 95%) of TNT’s aggregate issued and outstanding ordinary share capital, on a fully diluted basis, as of the time and date on which the Offer expires.

As previously announced, the Acceptance Period under the Offer is currently scheduled to expire at 17:40 hours CET (11:40 a.m. New York time) on October 30, 2015, unless extended in accordance with the terms of the Offer. FedEx and TNT Express are on track to obtain all necessary approvals and competition clearances.

The Combination presents a highly pro-competitive proposition for the provision of small package delivery services within and outside Europe. The networks of TNT Express and FedEx are largely complementary, given that FedEx’s strength is providing U.S. domestic and extra-EEA international services, while TNT Express’ focus is on providing intra-European services. The Combination would allow the parties to sell a more competitive e-commerce offering in the market, which should benefit consumers and SMEs in Europe and beyond. Based on the required steps and procedures in Europe, Brazil, China and other jurisdictions around the world, however, some of the approvals and competition clearances could be received after October 30, 2015. This would cause the Acceptance Period to be extended. In accordance with the terms and conditions in the Offer Document, the Offeror will announce any such extension by press release no later than three Dutch business days following the expiry of the current Acceptance Period.

European Commission logo

In April 2015, FedEx announced its intention to buy TNT Express for €4.4 billion ($4.8 billion; £3.2 billion), as it looks to expand its operations in Europe. The European Commission launched its investigation into the planned acquisition on July 31, 2015. The EC will decide by December 7, 2015.

Copyright Photo: Paul Denton/AirlinersGallery.com. TNT Airways Boeing 777-FHT OO-TSB (msn 39266) approaches the runway at Dubai.

TNT Airways aircraft slide show: AG Airline Slide Show

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Qatar Airways is coming to Dallas/Fort Worth

Qatar Airways (Doha) today announced it will be extending its footprint in the USA by announcing its seventh gateway to Dallas/Fort Worth (DFW). Service will commence on July 1, 2014. The move was expected due to its new Oneworld relationship with partner American Airlines (Dallas/Fort Worth).

The Dallas/Fort Worth route will be operated with the airline’s flagship Boeing 777-200LR aircraft, which features a two-class design with 42 Business Class lie-flat seats in a 2-2-2 configuration (below).

Qatar Airways’ Boeing 777-200LR Business Class

Qatar Airways currently flies to four destinations in the United States – New York (JFK), Washington (Dulles), Chicago (O’Hare) and Houston (Bush Intercontinental). The airline will nearly double its footprint in the United States with the addition of three new routes in 2014: Philadelphia (April 2, 2014), Miami (June 10, 2014) and now Dallas/Fort Worth (July 1, 2014).

Copyright Photo: Christian Volpati/AirlinersGallery.com. Boeing 777-2DZ LR A7-BBE (msn 36017) taxies at Paris (CDG).

Qatar Airways: AG Slide Show

 

Emirates is coming to Boston

Emirates (Dubai) has announced a new trans-Atlantic link with the start of flights to Boston from March 10, 2014.

This will be the airline’s 8th route into the United States, 9th into North America and 12th into all of the Americas.

The flight will be operated by a GE-90 engine-powered Boeing 777-200 LR and brings the winner of the Skytrax ‘World’s Best Airline’ 2013 award into Boston Logan International Airport on a daily basis.

From March 10, 2014, flight EK 237 will depart Dubai at 0945 and arrive in Boston at 1515. The return flight, EK 238, will take off from Boston at 2255 and land in Dubai at 1910 the next day. As part of an agreement with JetBlue Airways (New York), Emirates and JetBlue passengers are able to travel on each other’s flights and earn reciprocal miles.

Emirates started flights to America in 2004, beginning with New York. The airline’s current seven U.S gateways form part of a 134-destination network, served by a fleet of more than 200 modern aircraft, including the airline’s flagship Airbus A380. Emirates’ much-lauded hub in Dubai is equipped with the world’s first purpose-built A380 concourse, housing the largest First and Business Class lounges in the industry.

Copyright Photo: Stefan Sjogren/AirlinersGallery.com. Boeing 777-21H LR (Longer Range) A6-EWA (msn 35572) touches down at Stockholm (Arlanda), a recent new destination for the fast-growing carrier.

Emirates: AG Slide Show

PIA’s flight PK 782 from Toronto to Karachi diverts to Stockholm after receiving a bomb threat

PIA’s (Pakistan International Airlines) (Karachi) flight PK 782 with 273 passengers and crew on board operating from Toronto (Pearson) to Karachi diverted this morning to Stockholm (Arlanda) after a tip was received stating one of the passengers on board had a bomb. Boeing 777-240 LR AP-BGY (msn 33781) landed safely and so far no bomb has been discovered. One person is being held for questioning.

Read the full report from the Associated Press:

CLICK HERE

Copyright Photo: Jay Selman. AP-BGY prepares to land at JFK International Airport in New York.

Qatar Airways orders two more Boeing 777-200 LRs

Qatar Airways (Doha) announced an order for two additional Boeing 777-200 LR (Longer Range) airliners. This order was previously accounted for on Boeing’s Orders and Deliveries website attributed to an unidentified customer.

Qatar Airways already operates six 777-200 LRs, 11 777-300 ERs and two 777F Freighters. Including today’s order, Qatar Airways has 10 777s in unfilled orders.

Copyright Photo: Brian McDonough. This beautiful banking shot shows 777-2DZ LR A7-BBC (msn 36015) on its final approach at Washington (Dulles) after arriving nonstop from Doha.

IAM files for union elections at Delta Air Lines

The International Association of Machinists and Aerospace Workers (IAM) today (July 1) is filing applications with the National Mediation Board (NMB) for rulings that will lead to union representation elections for more than 30,000 employees at mostly non-union Delta Air Lines (Atlanta).

The IAM is requesting separate “single carrier” rulings from the NMB with respect to the carrier’s fleet service and passenger service classifications. These rulings would establish that Delta and Northwest Airlines are operating as one carrier for representational purposes in each of these classifications, clearing the way for elections to be scheduled for each of these combined work groups. The Machinists Union is still investigating the single carrier status of stock clerks and office & clerical employees.

Following the NMB’s single carrier ruling, the IAM will have 14 days to provide evidence that sufficient interest exists in that employee classification to warrant an election. Proof of interest is demonstrated by a combination of the IAM’s current pre-merger Northwest membership plus signed election request cards from pre-merger Delta employees totaling at least 35 percent of eligible employees in each classification.

Read the full press release:

CLICK HERE

Copyright Photo: Nick Dean. Boeing 777-232 LR (Longer Range) N710DN (msn 40560) climbs away from Everett (Paine Field).