Air Transport

Japan's All Nippon Airways plans to raise ¥141.7 billion ($1.53 billion) from a share placement this month to finance the purchase of additional aircraft and shore up its balance sheet.

The Star Alliance member says in a statement that it will offer 537.5 million shares at ¥259 each to Japanese and international investors as part of a fund-raising plan that it announced on 1 July. It will also offer another 37.5 million shares by way of an over-allotment option, it adds.

The total amount it aims to raise is about 20% lower than the ¥183 billionit aimed for during its 1 July announcement due to a drop in its share price since then.

The airline is using the money to fund its aircraft acquisition programme, which includes Boeing 787s on order.