NCA goes cold on changes to JAL Cargo merger

THE proposed merger between Nippon Cargo Airlines (NCA) and Japan Airlines’ (JAL) cargo division has stalled.The merger was planned for completion on 1 April, with NCA absorbing JAL’s cargo operations and holding a 50 to 60 per cent stake in the new business, JAL holding the rest.However, JAL has now filed for bankruptcy protection and is being led through restructure by the state-owned Enterprise Turnaround Initiative Corporation (ETIC). ETIC is keen for NCA to takeover JAL Cargo completely, which it doesn’t want to do.According to a senior executive “the talks may be broken off” because of the impasse.

Share this story
Facebook
Twitter
LinkedIn