All Nippon Airways and First Eastern Investment
Group of Hong Kong have finalized a joint venture agreement to
invest in a new low cost airline based at Kansai International
Airport in Osaka.
The new joint venture company, A&F・Aviation Co.,
Ltd., will be officially established and will own and operate the
new carrier. The initial capitalization of the new company will be
•30,050,000 comprised of: ANA •10,050,000; First Eastern Aviation
Holdings Limited (Hong Kong Corporation) •10,000,000; Others
Prior to the start of service, additional
investment will be raised from domestic investors to a maximum of
approximately •15 billion.
The new company will apply for an Air Operator
Certificate and begin to build its brand with the aim of beginning
low-cost operations in the second half of next fiscal year.
CEO of the new company is planned to be Shinichi Inoue, currently
Vice President, LCC Joint Venture Project Team of ANA.
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