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ANA applies for AirAsia Japan registration

1-Sep-2011 7:50 AM

All Nippon Airways (ANA) applied (31-Aug-2011) to the Legal Affairs Bureau of Japan to establish its JV with AirAsia to form an LCC based at Japan Narita Airport. The newly established joint venture company, AirAsia Japan Co Ltd, will apply for an Air Operator’s Certificate with the aim of commencing low-cost operations from Aug-2011. ANA will initially pay JPY10 million (USD130,000) of capital into the new airline, with its investment rising to a maximum of JPY5 billion. ANA will have a shareholding of 51% in the JV company including non-voting stock (67% on an investment ratio basis). The chief executive of AirAsia Japan will be Kazuyuki Iwakata. [more]