Nippon Yusen Kaisha (NYK) will acquire the 27.6% stake in Nippon Cargo Airlines (NCA) held by All Nippon Airways (ANA), giving it a majority 55% interest in the Asian air cargo company. NCA will become a consolidated subsidiary of NYK. No date or other details were released.
ANA reportedly said it wants to pursue a different strategy in the cargo market than NYK.
Mitsui OSK and K-lines, each own 13.2% of NCA.
“NYK clearly wishes to expand its exposure to air cargo, particularly the enormous potential of the Chinese market,” said a report by Transport Intelligence. “However, the acquisition takes place in the context of NYK’s wider corporate objectives of evolving into a full-service ‘logistics integrator’, able to provide land, sea and air transport,” the report continued.
In separate news, Air Canada Cargo and AirBridge (a unit of Volga-Dnepr Group) have signed an exclusive marketing agreement which covers scheduled and charter freighter services linking Frankfurt and Amsterdam with Russia and Asia.
The 747F services will reportedly assist the oil and gas industry in western Canada.