Japan’s All Nippon Airways (ANA) is selling out of freight carrier Nippon Cargo Airlines (NCA) to focus on expanding its own fledgling freighter operation.
ANA says it has agreed to sell its 27.59% stake to fellow major shareholder Nippon Yusen Kaisha (NYK). The logistics company currently has the same percentage stake in NCA as ANA. Financial terms of the deal, which should be finalised by the end of August, are not being disclosed.
ANA says it and logistics company NYK “wish to pursue separate strategies in the growing cargo market in the future”, adding that it will focus on its own cargo operations after the sale.
NCA launched in 1985 and operates 11 Boeing 747 “Classic” freighters and one 747-400F. It has firm orders for three new-build 747-400Fs and will add four 747-400 Special Freighters converted from passenger configuration.
ANA’s own freighter fleet comprises a single Boeing 767-300F that serves China, but it has orders for two more of the type and says it “intends to continue to expand its cargo operations in the future”. Rival Japan Airlines, which has a sizeable 747 freighter fleet of its own, recently ordered 767-300 freighters and will use them largely for services to the growing China market.
ANA provides NCA with pilots, flight engineers and maintenance and acts as general sales agent. It will provide operational support until 2009.
NICHOLAS IONIDES/SINGAPORE
Source: Flight International
