NYK to sell Nippon Cargo Airlines
TOKYO : Nippon Yusen Kabushiki Kaisha (NYK) entered into a Memorandum of Understanding (MoU) with ANA HOLDINGS INC (ANAHD) to transfer entire shares of Nippon Cargo Airlines (NCA), a consolidated subsidiary, to ANAHD.
NYK has been a major stakeholder in NCA’s management since its establishment in 1978, and purchased all of NCA’s shares in 2010 with the goal of becoming a comprehensive logistics company offering ocean, land, and air transportation.
However, the constant introduction of new aviation to extend the operation and maintenance system, as well as the ongoing training of employees involved in operation and maintenance, necessitated a significant investment.
NCA has faced challenges in growing its business size at a level commensurate with such expenses in the highly volatile business climate of airfreight transportation.
According to the statement, ANAHD expressed a strong desire to acquire NCA, the only Japanese airline dedicated exclusively to air cargo transportation, wanting to add it to its business portfolio.
ANAHD aims to enhance its international air cargo network and products and services based in Japan, as well as to contribute to the development of global economic activities both in Japan and abroad.