ANA Holdings (ANA HD) has officially completed the acquisition of all shares of Nippon Cargo Airlines (NCA) from Nippon Yusen Kabushiki Kaisha through a simplified share exchange, following regulatory approval. The transaction was finalized on August 1, 2025, marking a significant strategic move in ANA Group’s global cargo growth strategy.
The integration of NCA’s dedicated Boeing 747-8 freighter fleet with the ANA Group’s international network, which includes six Boeing 767 freighters and two Boeing 777 freighters, will substantially increase transport capacity between Japan and key global markets including Asia, Europe, and the U.S.
This merger solidifies the ANA Group’s position as Japan’s largest combination carrier and elevates it to the 14th largest airline group in the world based on cargo transport volume.
Koji Shibata, President and CEO of ANA Holdings, commented:
“The strategic integration of NCA’s freighter network and specialized cargo expertise with the ANA Group’s existing infrastructure will greatly improve our capability to serve our customers’ needs.
We are committed to leveraging this expanded capacity and combined knowledge to deliver exceptional value in our cargo transport solutions globally.”
The acquisition will enable ANA to enhance its offerings in special commodities, bulk cargo, and time-sensitive shipments, benefiting from NCA’s longstanding expertise in large-scale freighter operations. The synergy is expected to improve service quality, network reach, and operational competitiveness.
ANA also aims to use the combined capacity to help customers optimize their global supply chains, offering flexible and value-driven cargo solutions that respond to the increasingly complex demands of international trade and logistics.
With the integration of NCA, ANA Group also expects improved profitability and greater resilience against market volatility, reinforcing its long-term growth and stability.
In the near future, the planned expansion of Narita Airport—including new runway developments—is expected to further enhance the Group’s air cargo capabilities, allowing for a greater number of departures and arrivals to meet growing international demand.
The move underscores ANA Group’s ambition to become a top-tier global cargo carrier, while supporting Japan’s economic connectivity with the world through robust air logistics infrastructure.