Japan's ANA assumes full ownership of Peach Aviation

ANA Holdings has acquired the remaining 7% stake in Peach Aviation from Hong Kong-based First Eastern Aviation Holdings, assuming full control of the low-cost carrier. "As we anticipate a further increase of inbound tourists, the decision to make Peach a wholly owned subsidiary is designed to build on previous growth, strengthen ANA Group's business portfolio and increase profits. ANA Holdings will continue to actively develop demand to increase inbound tourists, with the goal of attracting 60m visitors and encouraging regional revitalisation," the ANA - All Nippon Airways parent said in a statement. Peach Aviation was incorporated in 2011 as a tripartite joint venture between ANA Holdings, First Eastern Aviation Holdings, and Innovation Network Corporation of Japan (INCJ), each with a third of the shares. ANA Holdings acquired a majority stake in the airline from the other two shareholders in 2017, when it consolidated the subsidiary, and subsequently bought out first INCJ, and now First Eastern Aviation Holdings.<br/>