ANA Holding, the Japanese holding company that owns and manages the ANA Group, has officially acquired Nippon Cargo Airlines (NCA) through a simplified share exchange with Nippon Yusen Kabushiki Kaisha, reinforcing its cargo strategy and global market presence.

The deal, which sees NCA become a wholly owned subsidiary of ANA Holdings, integrates NCA’s dedicated freighter fleet with ANA Group’s existing passenger and cargo network. The move expands the group’s capacity between Japan and key global markets including Asia, Europe and the US.

ANA Group currently operates six Boeing 767 freighters and two Boeing 777 freighters, while NCA brings eight Boeing 747-8 freighters into the fleet. Together, the combined operation is set to make ANA Group the world’s 14th largest airline group by freight capacity.

Koji Shibata, president and chief executive of ANA Holdings, said: “The strategic integration of NCA’s freighter network and specialised cargo expertise with the ANA Group’s existing infrastructure will greatly improve our capability to serve our customers’ needs. We are committed to leveraging this expanded capacity and combined knowledge to deliver exceptional value in our cargo transport solutions globally.”

The acquisition is expected to enhance ANA Group’s services in mass transportation and special cargo, including temperature-sensitive and high-value shipments. It also strengthens the group’s ability to support customers’ evolving supply chain needs with more competitive and resilient logistics offerings.

ANA Holdings anticipates improved profitability and reduced exposure to market volatility through the expanded cargo operation. The company also expects further long-term gains as Narita Airport, a key cargo hub, prepares for runway expansion and increased flight capacity.

The financial results of NCA will be consolidated into ANA Holdings’ accounts from the second quarter of the 2025 fiscal year.