AirAsia Japan to be dissolved on 31-Oct-2013, ANA to continue LCC operations at Tokyo Narita

ANA Holdings announced (25-Jun-2013) at a meeting of the board of directors held on 25-Jun-2013, that it has decided to dissolve AirAsia Japan, its LCC JV with AirAsia Berhad, and signed an agreement with AirAsia Berhad to that effect. ANA Holdings will acquire AirAsia Berhad's shareholding in the JV, which will henceforth operate as a wholly-owned subsidiary of ANA, based at Tokyo Narita Airport. AirAsia Japan will continue to operate under the AirAsia brand until 31-Oct-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 JV on ANA Holdings is limited, it said. [more - original PR]