ANA Holdings has received approval for its planned takeover of Nippon Cargo Airlines (NCA) from Japan’s Fair Trade Commission (JFTC).
JFTC had initially rejected the proposed takeover because of concerns that the deal would restrict competition on services from Japan to the Chicago area and the Los Angeles area.
To appease the regulator, the two companies agreed that they would provide a block space agreement to rival freighter carrier Polar Air Cargo and appoint a lawyer and an economist to monitor the agreement, as per a report.