AirAsia considering sale of AirAsia Japan stake to ANA

AirAsia Group is reportedly considering selling its 33% stake in AirAsia Japan to JV partner All Nippon Airways (ANA), with ANA to merge the carrier with its existing LCC subsidiary Peach (The Nikkei/AFP/Bloomberg/The Wall Street Journal, 11-Jun-2013). AirAsia will look to develop a new Japanese LCC in partnership with a Japanese company. AirAsia CEO Tony Fernandes said: "The problem is not with the model, it's with management." Mr Fernandes added: "It's got to be run as a low-cost airline. The difficulties right now are that we just have different styles of running it." ANA spokesperson Megumi Tezuka said: "ANA would continue operating the business as a low-cost carrier from Narita airport even if the partnership with AirAsia is dissolved. ANA, which owns 67% of AirAsia Japan, may buy out AirAsia's stake in the venture."