Nippon Cargo Airlines is set to be reunited with former stakeholder All Nippon Airlines after its Nippon Yusen Kaisha (NYK) announced its plan to transfer all shares of the all-cargo airline to ANA.
The deal is scheduled to close by 1 October 2023, and experts surmise that NCA has become ‘too costly’ for the NYK Group with a ‘looming fleet renewal not helping the case.
In a statement, NYK said “the continuous introduction of new aircraft to expand the operation and maintenance system, and the continuous training of personnel engaged in operation and maintenance required a considerable expenditure.”
“In the highly volatile business environment of airfreight transportation, NCA has been facing challenges in expanding its business scale at a level that is commensurate with such costs.”
“In order for NCA to achieve further growth and increase corporate value from a long-term perspective which include environmental responsiveness, we believe that it is the best option to transfer shares of NCA to ANAHD which operates the same business.”
Payload Asia learned that ANA sold a 27.6 percent stake it had in NCA to NYK back in 2005. Five years later NYK acquired all shares of NCA back in 2010 with aspirations of becoming a comprehensive logistics company offering ocean, land, and air transportation. NCA is a dedicated cargo airline with a network across Europe, US, and Asia.
Other Topics: Air Cargo Network, Air Express, Air Freight Services, Air Logistics, Asia Pacific Air Cargo, Asia Pacific Air Freight, Asia Pacific Air Logistics, Asia Pacific Shipments, Cargo Flights, E-Commerce Logistics, Express Delivery, Express Logistics, International Air Shipments, International Express Delivery, Transpacific Air Cargo, Transpacific Air Freight