MIAMI – ANA Holdings, the parent company of Japanese airline All Nippon Airways (NH), aims to sell over ¥150bn in bonds to invest in a new airline.

The funds will be used to support the company’s business structure reform strategy, which was announced in October 2020, as well as to redeem maturing bonds and repay long-term debt.

According to ANA Holdings in a Tokyo Stock Exchange filing, the zero coupons convertible bonds will be issued in December 2021, will have a ten-year period, and will be fully redeemed in December 2031.

According to airinsight.com, around ¥70bn of the ¥150bn has been set aside for the redemption of bonds due in September 2022, while almost ¥30bn will be used to settle long-term debt due in March 2024.

The airline states that the remaining ¥50bn would be used to advance its business structure reform plan, including investments in restructuring our service model and building our new third brand.

ANA JA614A Boeing 767-381ER (Star Alliance Livery). Photo: Kochan Kleps/Airways

Air Japan


This third brand will be known as Air Japan, an existing ANA subsidiary founded in 1990 that now conducts Boeing 767 and 787 passenger and cargo flights from Narita International Airport (NRT) to Bangkok, Hong Kong, and Singapore.

The goal for ANA Holdings’ Air Japan is to use Boeing 787s with more than 300 seats to perform low-cost, medium-haul flights to destinations in Southeast Asia and Oceania. The group said in October of last year that it planned to develop the brand for such operations by fiscal 2022.

Air Insight Group states that, according to the most recent filing, the launch has been pushed back until at least the beginning of FY24, which begins in April 2024.


Featured image: ANA JA897A Boeing 787-9 Dreamliner. Nick Sheeder/Airways