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ANA and AirAsia to form AirAsia Japan

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ANA and AirAsia are teaming up to form AirAsia Japan, a new low cost airline.

AirAsia Japan will be based at Narita International Airport, and will serve both domestic and international destinations when it commences operations in August 2012, subject to obtaining the relevant approvals.

In Japan, the aviation market is undergoing rapid transformation with developments including the expansion of Open Skies agreements and increased domestic competition from road and rail-based travel.

Narita airport, a major international hub serving Tokyo, is also seeking to increase capacity with the introduction of a new terminal and is expected to attract numerous low cost and other airlines as it starts competing more aggressively with Haneda.

Mr. Shinichiro Ito, President and CEO of ANA said, “By combining AirAsia’s business model and brand with ANA’s depth of knowledge of the Japanese market, we aim to bring new value to our customers, offer diverse and enjoyable travel experiences, and generate new demand. We believe that AirAsia Japan will make air travel more accessible and provide a convenient and efficient travel option for a wide range of people.”

ANA had been seeking opportunities to launch a new low cost business based at Narita and, after analysis, has concluded that partnering with an existing low cost airline, such as AirAsia, is the most efficient and strategically advantageous option. It is, as yet, unclear how the move will affect ANA’s order with Mitsubishi Regional Jets.

Tan Sri Dr. Tony Fernandes, Group CEO of AirAsia said, “We are proud to extend AirAsia’s successful low-cost business model to Japan and further provide opportunities for everyone to fly to the destinations of their dreams with low fares. AirAsia Japan will not only boost economic growth between ASEAN and East Asia by providing better access to markets around the region, but also enhance links within travel, trade and tourism. AirAsia is proud to be identified as a low cost carrier partner to ANA, a very respected, credible and successful airline in Japan. This new joint venture is an important milestone in AirAsia’s growth as ANA is the very first airline partner to form a joint venture with AirAsia.”

New Company Outline

Company name: AirAsia Japan Co., Ltd.
Capital: ANA 67%, AirAsia 33% (Voting-right share basis)
ANA 51%, AirAsia 49% (Capital basis)
Base: Narita International Airport
Paid-in-capital: JPY 5 Billion
Fiscal year ending: March

Schedule

August 2011: Establish company
September - October 2011: Apply for Air Operators' Certificate (AOC)
August 2012: First flight

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