Japanese carriers plan share sales

Japanese carriers plan share sales

All Nippon Airways aims to raise as much as $2.6 billion by selling new shares to fund expansion plans.

The airline said it will use the money to acquire new aircraft, including Boeing 787 Dreamliners, and to bolster its finances.

ANA, launch carrier for the 787, said the sale – which could occur this month - would help it to establish "a financial base that is able to respond in a timely and flexible manner to future growth opportunities".

Japan Airlines, which had filed for bankruptcy in 2010 and was subsequently delisted from the Tokyo Stock Exchange, is also planning a share sale.

Local reports suggested JAL has applied for permission to relist on the exchange. It is expected to conduct its share sale in September to raise as much as $8 billion.

"Investors will have to be selective on their choices between the two airlines," Mitsushige Akino of Ichiyoshi Asset Management, told the BBC. "The new JAL is a competitive company."

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