Press Release

TNT Airways to introduce Boeing 777 to its fleet in 2011

Publish Date : 15 October 2010 at 08:30 CET - Amsterdam - TNT Airways and Guggenheim Aviation Partners, LLC have signed an agreement for the delivery and lease of three new Boeing 777-200 Long Ranger Freighters. The first aircraft will be delivered and enter service by July 2011. The two other will enter service by the end of 2011.

The B777 freighters will operate on long-haul routes between Europe and Asia. On these routes, TNT currently operates a fleet of two owned B747-400ERFs and two B747-400ERFs on short-term lease. The new B777 freighters will reduce TNT's reliance on commercial line-haul and external short-term contract capacity, while providing the capacity required to support the company's growth in Asia.

The B777 freighter offers a maximum payload of 107 tons compared to the 117 tons payload of a B747. The range capability of the B777 is outstanding. It carries more payload than a 747 over distances greater than 13,000 kilometers.

“We are delighted to have concluded this agreement with Guggenheim for these aircraft and we are thrilled by the prospect of introducing the new type in our fleet,” said Niky Terzakis, Managing Director, TNT Global Air Network. “Like the legacy 747, the B777 is a mature and very successful product and the most fuel efficient freighter aircraft available, while offering near equivalent performance to our 747 capacity,” he added. “Its performances and versatility are just excellent for the type of long haul service we operate. These aircraft will equally have a positive impact on CO2 emissions while we are growing our business and network.”

“We are very pleased to again have the opportunity to work with Niky and his team at TNT,” said Steve Rimmer, Chief Executive Officer of Guggenheim Aviation Partners, LLC. “The 777LRF is proving to be a perfect fit for this area of the freight market and will be a great addition to support TNT's future plans.”

About TNT
TNT provides businesses and consumers worldwide with an extensive range of services for their mail and express delivery needs. Headquartered in the Netherlands, TNT offers efficient network infrastructures in Europe and Asia and keeps optimising its global network performance. TNT serves more than 200 countries and employs about 160,000 people. Over 2009, TNT reported €10.4 billion in revenues and an operating income of €648 million. TNT is officially quoted on the Amsterdam Stock Exchange. TNT recognises its social responsibility and has formed partnerships with the United Nations World Food Programme and the United Nations Environment Programme to fight hunger and pollution in the world. Our efforts are being recognised: In 2010, TNT again attained the position of Supersector leader for Industrial Goods and Services in the Dow Jones Sustainability Index. More information about TNT can be found on its website .

About Guggenheim Aviation Partners, LLC
Guggenheim Aviation Partners, LLC, is an investment manager, in the acquisition of new and used commercial aircraft for leasing to domestic and international passenger airlines and cargo operators. Guggenheim Aviation Partners, LLC launched its first commercial aviation fund in 2005 and shortly thereafter closed its second fund in 2007 with total capital commitments of $737 million. Guggenheim Aviation Partners, LLC now has in excess of $2.7 billion of commercial aviation assets under management, representing a broad range of Boeing and Airbus aircraft on lease to airlines and cargo operators around the world. Guggenheim Aviation Partners, LLC is an affiliate of Guggenheim Partners, LLC.

About Guggenheim Partners
Guggenheim Partners, LLC is a diversified financial services firm with more than $100 billion in assets under supervision. The firm's businesses include investment management, investment advisory, insurance, investment banking and capital markets services. The firm is headquartered in Chicago and New York with a global network of offices throughout the United States, Europe and Asia.

Page publication date: 15 October 2010 at 08:30 CET