11-Jun-2013 11:22 AM

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.”

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More