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25-Jun-2013 4:55 PM

Dissolution of Joint Venture with AirAsia

Direct News Source

25-Jun-2013 At a meeting of the board of directors held today, June 25, ANA Holdings decided to dissolve AirAsia Japan, its low cost carrier (LCC) joint venture with AirAsia Berhad, and signed an agreement with AirAsia Berhad to that effect.

ANA Holdings will acquire AirAsia Berhad's shareholding in the joint venture, which will henceforth operate as a wholly-owned subsidiary of ANA, based at Narita Airport.

AirAsia Japan will continue to operate under the AirAsia brand until October 31, 2013. ANA holdings currently holds 67% of the voting shares and 51% on a capital basis in AirAsia Japan. The impact of the dissolution of the joint venture on ANA Holdings is limited.