Japan Post Service to end tie-up with ANA : Business : DAILY YOMIURI ONLINE (The Daily Yomiuri)
Japan Post Service to end tie-up with ANA
The Yomiuri Shimbun
Japan Post Service Co. likely will end its air cargo agreement with All Nippon Airways due to an apparent lack of growth in the international shipping business, The Yomiuri Shimbun learned Saturday.
Japan Post Service, which is a part of the Japan Post Group, plans to sell ANA all of its stock in ANA & JP Express Co., a joint venture established with ANA before Japan Post was privatized. Japan Post Service, which holds 33.3 percent of shares in the company, likely will start negotiating with ANA soon.
Although Japan Post Service regarded international shipping as a growth area when it was privatized in 2007, the company apparently has decided to exit the business for now.
In addition to shrinking domestic postal service business, the company has not seen growth in international services in the nearly two years since its privatization in October 2007.
ANA & JP Express was established in February 2006 with 80 million yen in capital. The other major holders of its stock are ANA with 51.7 percent, Nippon Express with 10 percent and Mitsui O.S.K. Lines with 5 percent. The company operates freight services between Japan and South Korea and other countries.
In an attempt to increase international freight operations of the joint venture, Japan Post had promoted comprehensive tie-up negotiations with TNT Express, a major Netherlands-based international shipping company. However, the negotiations broke down in June 2006.
(Aug. 9, 2009)
I don't read anything there that says that AJV is going away. There have been rumors of this happening for months now and this was one of the things that had to happen if AJV and AJX were to re-merge. Also note this from the ANA financial report:
"Domestic cargo volumes dropped overall year-on-year, however home parcel delivery services using flights centred on Okinawa held steady. Although international volumes also fell overall, demand began to gradually return from March this year, with shipments to China, Taipei and Seoul actually outperforming the same term of the previous year."
Storpikk, do you just wish ill will on people for kicks? You sure are taking a lot of liberty of telling people they are out of jobs based on a news report of a stock sell that was expected. There were cargo flights before AJV and I am pretty sure ANA isn't getting out of the cargo business.