NYK has invested US$5 million in Singapore-based Jett8 Airlines Cargo, following an agreement reached in February 2007. Under the terms of the February agreement, Jett8 would obtain an air operator’s certifi cate from the Singapore government, which it did on June 8, 2007, as well as the air traffi c rights required to operate the company’s scheduled international network.
The cargo carrier now plans to begin providing services between Asia, Europe, and the Middle East. The agreement also included a clause which said that NYK subsidiary, Nippon Cargo Airlines (NCA), would sell a B747-200F to Jett8 this spring. Jett8 took delivery of that aircraft earlier this month, and four more all-cargo planes are expected to join its fl eet within the fi rst twelve to fi fteen months of operation. The government of Singapore has already signed open-sky agreements with the EU, the US, India, and China (with some limitations), and is currently involved in negotiations for intra-regional open-sky measures among ASEAN states.
The collaboration with Jett8 will enhance NCA’s network through Singapore and Hong Kong, and provide the carrier with direct access to the fastgrowing trades between Asia and North America/Europe.