Nippon Express, MOL to gain shares in new cargo airline
Japanese freight forwarder Nippon Express and ocean carrier Mitsui O.S.K. Lines (MOL) will from April acquire shares in the new joint venture cargo airline of All Nippon Airways (ANA) and Japan Post.
The airline has been named ANA & JP Express (AJV) and is expected to start flights in August.
Initially, ANA will own 100 percent of AJV. In April, Nippon Express, MOL and Japan Post, subject to Japanese government approval, will acquire their stakes.
The expected ownership breakdown from April will be ANA, 51.7 percent; Japan Post, 33.3 percent; Nippon Express, 10 percent; and MOL, 5 percent.
AJV will operate using ANA’s fleet of three Boeing 767 freighters. Four more are due to be delivered by October 2008, three of which will be converted versions of ANA’s 767 passenger aircraft.