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Air Do and Solaseed Air plan to merge by October next year
May 31st 2021
Japanese carriers, Air Do and Solaseed Air, today announced they will merge, with the transaction targeted for completion by October next year. Read More » The two carriers said a joint holding company will be established and put to shareholders for approval in June next year. Air Do, based in Hokkaido, has a fleet of four 767-300s and eight 737-700s. Miyazaki-headquartered Solaseed Air has 14 737-800s. ANA HOLDINGS INC., the parent company of All Nippon Airways, was a shareholder in Air Do and Solaseed Air. The COVID-19 pandemic has hit both airlines hard. Air Do reported a net loss of 12.1 billion yen (US$110 million) for the 12 months to March 31, 2021. Solaseed Air also has been in the red, posting an annual net loss of 7.6 billion yen for its latest fiscal year. The pair said a deeper business alliance and cooperative relationship would support efforts to quickly recover the damaged financial base of both companies, survive the new business environment, provide more value to customers and achieve sustainable growth.
