La Poste, France’s postal service operator, has entered exclusive talks with Irish cargo companyAir Contractors Ltd (ACL) regarding the sale of its air freight subsidiary, Europe Airpost
(formerly Aeropostale) after reviewing two other offers from the French company Aigle Azur and theIcelandic aviation group Avion Aircraft Trading.French newspapers reported that ACL was favoured by the Europe Airpost management even thoughits offer of EUR 37 million seemed less attractive than the EUR 47 million offered by Aigle Azurand the EUR 50 million offered by Avion Aircraft Trading.
This was reportedly due to the fact that Europe Airpost has been cooperating with ACL, whichuses its two Airbus A300 freighters. Avion, which had taken over the French charter carrier StarAirlines, was particularly interested in Europe Airpost’s night flights at Paris.
The exclusive negotiations, until November 30, 2007, were confirmed by ACL shareholderCompagnie Maritime Belge (CMB). The Belgian shipping group also announced that it and financialinvestor, the Petercam Group, would buy the ACL holding of South African group Imperial Holdings bythe end of the year. CMB would become the ACL majority owner as a result.
La Poste has decided to sell Europe Airpost, its domestic cargo airline, in favour of mailtransportation by train in future. The airline has a fleet of 16 B737s, two A300s and four F27s.ACL, which is mostly active in the aircraft leasing business, owns 25 aircraft and operates afurther 18 planes. Its fleet mostly comprises smaller cargo planes.
Meanwhile, trade unions at Europe Airpost have criticised the planned sale, threateninglarge-scale action if the company fails to hold a referendum on the choice of buyer. “Even though a100% French solution exists, for some reason La Poste favours an offer without Frenchcapital,” unions pointed out. They warned that a “union front is prepared to protest against thischoice which could result in heavy industrial action”.
