ANA Holdings has finally completed the takeover of freighter operator Nippon Cargo Airlines (NCA) from NYK after the time taken to gain regulatory approval delayed the deal by more than 20 months.
According to ANA Holdings, the move creates Japan’s largest combination carrier, boasting a fleet including ANA’s six Boeing 767 freighters and two Boeing 777 freighters and NCA’s eight Boeing 747-8 freighters.
NCA also owns seven Boeing 747-400F that are operated by other companies on lease.
The simplified share exchange deal was completed on 1 August.
"Combining NCA's large freighter network with ANA Group's extensive international network of passenger and freighter flights will bolster transport capacity between Japan and Asia, Europe and the US," ANA Cargo said.
"This enhancement will not only significantly strengthen the Group's position as Japan's largest combination carrier but also elevate the ANA Group to the world's 14th largest airline group based on cargo transport weight."
ANA added that the deal would combine the ANA Group's international network with NCA's expertise in special commodities and mass transportation using large freighters.
The deal is also expected to boost the ANA Group's profitability as the strengthened cargo business will improve its resilience against market volatility and changes.
"The strategic integration of NCA's freighter network and specialised cargo expertise with the ANA Group's existing infrastructure will greatly improve our capability to serve our customers' needs," said Koji Shibata, president and chief executive of ANA Holdings.
"We are committed to leveraging this expanded capacity and combined knowledge to deliver exceptional value in our cargo transport solutions globally."
ANA first announced its plans to purchase Boeing 747-8 freighter operator NCA from the NYK shipping group in March 2023 and had originally anticipated it would complete the deal on 1 October 2023.
However, the deal was pushed back several times due to delays in the approval process. The company finally gained approval from China in June.
Logistics group NYK decided to offload NCA due to the ongoing costs and expertise required to run a cargo airline.
