After a not-so-successful partnership with All Nippon Airways from August 2012 to October 2013, AirAsia is set to return to the Japan’s low cost carrier scene with new shareholders including Japan Infrastructure Fund I GK(Octave), Rakuten Inc (Rakuten), Noevir Holdings Co Ltd (Noevir) and Alpen Co Ltd (Alpen).
Rakuten’s businesses include e-commerce on online travel, financial services, telecommunications and professional sports while Noever is in the cosmetics, pharmaceuticals and health food, apparel and aviation business. Alpen’s major business includes manufacturing and retail of ski equipment, sporting goods equipment and leisure goods. Alpen also manages ski resorts, golf courses and fitness clubs. Octave was incorporated in Japan in May this year and it will acquire, own, manage, hold, sell and dispose of the shares of AirAsia Japan and make collections from these shares.
The company launches this month and service will tentatively begin Summer next year with a fleet of five Airbus A320 aircraft subject to discussions with relevant authorities.
The new company set up will be named AirAsia Japan Co., Ltd with a physical office at 1-4-3 Shiba, Minatoku, Tokyo. Its business will include domestic and international airline carrier business. AirAsia will hold 49% of the shareholdings, while Octave Japan Co. Ltd holds 19%, Rakuten, Inc 18%, Noevir Holdings Co Ltd 9% and Alpen Co Ltd 5%. It will have a tentative startup capital of seven billion Yen. Yoshinori Odagiri will be the new setup’s Chief Executive Officer.
The failed partnership with All Nippon Airways has been rebranded to Vanilla Air which is 100% wholly owned by ANA which is based out of Tokyo Narita Airport. The base for AirAsia Japan has yet to be ascertained.
Currently there are nine low cost carriers operating within Japan including Vanilla Air, Skymark, Spring Airlines Japan, Peach Aviation, Jetstar Japan, Air Do and others.
Tony Fernandes was at Grand Hyatt Tokyo in Roppongi to make this announcement at the press conference yesterday.
