News / ANA postpones Nippon Cargo Airlines takeover until May

Photo: © Ajdibilio

The long-running takeover of Nippon Cargo Airlines by ANA Holdings has been postponed yet again, and is now scheduled for 1 May. 

The acquisition was announced in 2023, but has been postponed several times.  

The share exchange was due on 31 March, but ANA said: “Taking into consideration the time to complete the review of the business combination that will result from the share exchange by the relevant authorities in China, etc, the company decided to change the effective date of the share exchange.” 

The financial results of the two companies will now be consolidated from the first quarter of the fiscal year ending 31 March 2026. 

Last month, ANA reported its nine-month results, to 31 December, which showed an uptick in cargo carried. Volumes in tonnes rose nearly 3%, year on year. International cargo revenue grew more than 20% to ¥143.2bn ($953m), with capacity up 1.6%.   

ANA said: “In international cargo services, we captured strong demand for cargo transport between Asia and China to North America, as well as gradual recovery in demand from Japan, mainly focusing on the automotive industry, resulting in year-on-year increases in both weight and revenue.  

“In terms of the route network, we have been working on ensuring profitability by flexibly adjusting the operation routes and supply volume of cargo-only aircraft.” It added that it had operated airline charter flights by other companies since August. 

It had also opened a new cargo facility at Narita Airport in Japan, which had improved operational efficiency and expanded its temperature-controlled facilities. 

The decision to sell NCA, by parent NYK Line, was prompted by high costs, after NCA faced significant maintenance issues. 

NYK said at the time: “The continuous introduction of new aircraft to expand the operation and maintenance system, and the continuous training of personnel engaged in operation and maintenance required a considerable expenditure. 

“In the highly volatile business environment of airfreight, NCA has been facing challenges in expanding its business scale at a level that is commensurate with such costs.”