ANA to buy AirAsia out of AirAsia Japan

ANA to buy AirAsia out of AirAsia Japan

All Nippon Airways has confirmed it will buy AirAsia out of a Tokyo-based budget airline joint venture AirAsia Japan and operate the business as a wholly owned subsidiary.

The mean dissolves an alliance formed less than two years ago.

AirAsia Japan, which is based at Narita International Airport, has failed to win over Japanese travellers since it was set up in August 2011.

The Japanese carrier, which owns two thirds of the join venture, has blamed the poor performance of AirAsia Japan on ineffective marketing and a user-unfriendly booking website.

ANA did not say how much it will pay to buy out AirAsia.