AirAsia to re-enter Japan’s low cost carrier market
Tokyo, July 1, 2014
Malaysia-based AirAsia is set to enter into a shareholders deal with Octave Japan Infrastructure Fund, Rakuten, Noevir Holding and Alpen, to establish AirAsia Japan.
Tony Fernandes, group chief executive officer of AirAsia, said: “We are very excited to return to Japan’s skies together with Octave, Rakuten, Noevir and Alpen this time round. I am more confident than ever that AirAsia Japan, led by Odi (Odagiri Yoshinori) with the strong partnership we have with our new investors, will continue to realise our vision to revolutionise the low-cost carrier segment of Japan.
“The AirAsia Japan team is now working hard with the relevant authorities to obtain necessary operational approvals, and we hope that all will be in place to start both domestic and international flights by the summer of 2015.”
Odagiri Yoshinori, chief executive officer of AirAsia Japan, said: “We are ready to take on this challenge and with great teamwork, we hope to bring AirAsia‟s successful low-cost business model once again to Japan.
“Our counterparts in Malaysia, Thailand, Indonesia, the Philippines and India have seen great and encouraging responses in their markets, and we will work towards the same for Japan.”
Rakuten was incorporated in Japan in February 1997 and its major businesses include Internet services (e-commerce, travel), financial services (bank, credit card, securities), telecommunications and professional sports, while Noevir was incorporated in Japan in March 2011 and its major businesses include cosmetics, pharmaceuticals and health food, apparel and aviation business.
Alpen was incorporated in Japan in July 1972 and its major businesses include manufacturing and retail of ski equipment, other sporting goods equipment including golf, tennis, marine sports, baseball, and leisure goods; management of ski resorts, golf courses and fitness clubs; while Octave was incorporated in Japan in May this year and its major business is to acquire, own, manage, hold, sell, and dispose of the shares of AirAsia Japan and make collections from the shares of AirAsia Japan. - TradeArabia News Service