Freight Transport

After filing for bankruptcy protection in January, Japan Airlines (JAL) has sold its cargo handling operation at Chubu Centrair International Airport to Suzuyo & Co

The JAL Group has confirmed that JAL Cargo Service will transfer the business and assets of its cargo handling operations at ChubuCentrair International Airport to Suzuyo through a business transfer agreement

Furthermore, Japan Airlines International will sell 95% of its stake in JAL Sky Nagoya and 61% of its 66% stake in Chubu Sky Support (CSS), while JAL Ground Service (JGS) will sell 34% of its stake in CSS, by way of a stock transfer agreement

This is reported to be one of the cost-saving and restructuring schemes proposed by the Japanese government

The JAL Group is aiming to achieve a swift and fundamental reform of the company in a short period of time with the support of Japan's Enterprise Turnaround Initiative Corp

Suzuyo is experienced in air transport operations through its subsidiary companies Fuji Dream Airlines (FDA) and Shizuoka Airport Service JAL group and Suzuyo already cooperate on an extensive range of businesses, including the current codeshare arrangement between JAL and FDA

Earlier this month, JAL announced that it would suspend its freighter codeshare flight with Singapore Airlines Cargo on September 17th