Jiji Press

17:07 JST, March 8, 2023

TOKYO (Jiji Press) — ANA Holdings Inc. said Tuesday that it will acquire Nippon Cargo Airlines, a unit of major shipping company Nippon Yusen K.K.

The major Japanese airline group said it has clinched a basic agreement on the acquisition with Nippon Yusen.

The ANA group aims to integrate its cargo operations with those of NCA in the future to enhance its international air freight networks and competitiveness.

The combined weight of cargo transported by the ANA group and NCA in 2021 was the ninth heaviest in the world.

The ANA side is slated to complete the acquisition of all NCA shares, the cost of which has yet to be decided, by around Oct. 1.