Cargo Breaking News
NYK has entered into an agreement to transfer all shares in B747 freighter operator Nippon Cargo Airlines (NCA) to All Nippon Airways Holdings (ANA). The shipping group said that it had made the decision due to the ongoing cost of running the cargo airline. “The continuous introduction of new aircraft to expand the operation and maintenance system, and the continuous training of personnel engaged in operation and maintenance required a considerable expenditure,” NYK said. “In the highly volatile business environment of airfreight transportation, NCA has been facing challenges in expanding its business scale at a level that is commensurate with such costs.”
For ANA, the deal will “dramatically enhance its international air cargo network” and products and services based in Japan and also with the aim to contribute to the development of global economic activities both in Japan and abroad.
“In order for NCA to achieve further growth and increase corporate value from a long-term perspective which includes environmental responsiveness, we believe that it is the best option to transfer shares of NCA to [ANA] which operates the same business, and has been providing NCA with cooperative relation to strengthen its maintenance system,” NYK added.
The terms of the deal are still under discussion but both parties hope to finalise the transaction by October 1.
NCA currently operates a fleet of eight B747-8 freighter aircraft and owns five B747-400 freighters that are operated by ASL and Atlas Air.
