Sunday, June 22, 2025

ANA Holdings’ Nippon Cargo Airlines Takeover Delayed Again

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ANA Holdings‘ acquisition of Nippon Cargo Airlines (NCA) has been postponed until May 1, 2025, as the deal awaits regulatory approval from authorities, including those in China.

Key Updates:
🔹 New Timeline: Originally set for March 31, now pushed to May 1
🔹 Regulatory Delays: Approval needed from Chinese authorities and others
🔹 Fair Trade Commission Approval: Japan’s JFTC approved the deal in January after competition concerns were addressed

Background on the Acquisition:
ANA announced the takeover in March 2023 with an initial completion date of October 2023

The deal has now been delayed five times due to regulatory hurdles

NCA’s Current Fleet:

  • 8 Boeing 747-8 freighters
  • 5 Boeing 747-400 freighters (operated by ASL & Atlas Air)

ANA’s Cargo Fleet:

  • 6 Boeing 767 freighters
  • 2 Boeing 777 freighters

Competition & Regulatory Challenges:
To ease competition concerns, ANA and NCA agreed to:
✅ Provide a Block Space Agreement (BSA) to Polar Air Cargo (later transferred to Atlas Air after Polar’s shutdown)
✅ Appoint a lawyer and economist to monitor compliance

Strategic Impact:
🌍 Expands ANA’s international cargo network
💼 Strengthens Japan’s global air cargo presence
📦 Enhances service offerings with a larger freighter fleet

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