ANA seeks regulatory permission to launch JV with AirAsia
Posted On: 02 Sep 2011
All Nippon Airways (ANA) officially applied Wednesday to Japan's Legal Affairs Bureau to establish its planned joint venture LCC with AirAsia to be called AirAsia Japan.
ANA said it will apply for an Air Operator's Certificate for AirAsia Japan "with the aim of beginning low-cost operations from August next year." The carrier will be based at Tokyo Narita.
ANA said it will initially invest ¥10 million in the JV, with its total investment eventually rising to ¥5 billion (US$65.1 million), giving it a 51% stake.
Kazuyuki Iwakata, ANA VP-international and regulatory affairs, was named CEO of AirAsia Japan. The LCC plans to operate both domestic and international flights.
Wires
A successful asian LCC teams up with successful Japanese Major vs. foreigner teams up with bankrupt Japanese major (JAL).
Air Do and Skymark won't take J* Japan lying down either.
This SIGWX chart is a metaphor for AJ's strategy - a typhoon heading for a nuclear accident:
