All Nippon Airways (ANA) will become the wholly owning parent company of ANA Sales (ASX) and ANA Airport Handling (AAH), two consolidated subsidiary companies.
The announcement was made Friday at ANA’s board of directors’ meeting. A share exchange agreement will take effect March 31.
The move is part of a broader ANA Group strategic plan to streamline operations.
“To further our growth, we will be able to respond to the intensifying competition and the changes in the business environment as well as improve our corporate and shareholder values,” the company said in a financial statement.
ASX runs sales functions for the Group and AAH carries out handling operations at Japan’s Tokyo Haneda Airport.
Article Source : ATW Daily News
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