Japanese shipping line Nippon Yusen Kaisha (NYK) has agreed to sell its air cargo transportation business to compatriot airline All Nippon Airways (ANA). One of the largest shipowners in Japan has sealed a memorandum of understanding that will see ANA acquire all shares in freighter operator Nippon Cargo Airlines (NCA), with the transaction expected to close by October 1 this year.
At a time when rivals such as MSC , Maersk and CMA CGM are in the early stages of setting up aviation divisions, NYK, which has had a long history in air cargo, explained the ongoing cost of running the cargo airline as the reasoning behind the sale.
“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,” NYK said.
NCA was established in 1978, with NYK onboard as a major shareholder since its establishment. In 2010, NYK took full ownership of NCA with the aim of becoming a comprehensive logistics company offering ocean, land, and air transportation. The company currently operates a fleet of eight Boeing 747-8 freighter aircrafts and owns Boeing 747-400 freighters that are operated by ASL and Atlas Air.
Your email address will not be published. Required fields are marked *
Subscribe now for free daily news updates.
Why don't they discuss weaponisation of marine insurance? Be...
Make Peace for WORLD. SOME COUNTRY ALREADY SUFFERING. NO ONE...
When will people realize the sanctions are not in place to s...
If a Russian insurance firm (or an insurance firm offering i...
No, Greece is not backstabbing the EU. Rather the EU is back...
Vale invests in more rotor sails https://t.co/b5Jou66EWO https://t.co/lUT4Ll7hf3
Himalaya Shipping readies New York IPO https://t.co/abKJ26XP4U https://t.co/6iF24K9ck4
Environmental groups file lawsuit to challenge decision to open 73m acres of Gulf of Mexico for oil leasing… https://t.co/Sge8rbVxbg
New Jersey opens third offshore wind energy solicitation https://t.co/j9s0YmaP5P https://t.co/UHM8IwyKH8
RT @Splash_247: The Year of the Rabbit brings good tidings for VLCCs https://t.co/W3PICly4o3
Don't have an account?