ANA and AirAsia appoint CEO for new low-cost JV

This story is sourced from Pro
See more Pro news »

All Nippon Airways (ANA) and AirAsia have appointed Kazuyuki Iwakata as the CEO for their new Japanese low-cost joint venture, AirAsia Japan.

Iwakata is currently ANA's vice-president for strategic planning for Asia Pacific.

In addition, the two airlines have formally applied to establish the low-cost carrier, ANA said in a statement.

The airlines are expecting to receive the approval to form the low-cost carrier in the near term and will apply for an air operators' certificate thereafter, an ANA spokeswoman said.

ANA will own 51% of the joint venture, while AirAsia will own 33% voting shares and 16% non-voting shares.

AirAsia Japan will be based out of Tokyo's Narita airport and is expected to begin its operations in August 2012.