Japan's Fair Trade Commission (JFTC) has approved ANA Holdings’ acquisition of NCA - Nippon Cargo Airlines (KZ, Tokyo Narita). In a January 30, 2025, media statement, the JFTC dismissed concerns about the deal's impact on competition on routes between Japan and the US, China, Singapore, Thailand, Taiwan, and Europe. ANA Holdings is the parent company of ANA - All Nippon Airways (NH, Tokyo Haneda).
The JFTC had previously raised concerns about the market for large cargo on routes between Japan and Los Angeles International and Chicago O'Hare. However, remedies proposed by ANA Holdings, including providing cargo space through a block space agreement with Polar Air Cargo (PO, New York JFK) and the appointment of a monitor, have appeased those concerns.
"We expect the [cargo] networks of ANA and NCA to complement each other," ANA CEO Shinichi Inoue told ch-aviation last year. "The aim is to enhance our competitive advantages by fully utilising the operational capabilities of both carriers and to offer convenient options for customers."
Chinese and Singaporean competition authorities are still to give the acquisition the green light. The JFTC says it is "exchanging information" with the relevant agencies in those countries.
Japanese shipping company Nippon Yusen Kabushiki Kaisha reached a preliminary agreement for ANA Holdings to buy Nippon Cargo Airlines in March 2023, but finalising the transaction has been repeatedly postponed due to delays by Japanese and Chinese competition agencies.
Nippon Cargo Airlines is Japan's sole cargo-only carrier. Its scheduled cargo network, relying on a fleet of eight B747-8Fs, covers 13 airports in nine countries.
