Nippon Cargo Airlines (NCA), the air freight subsidiary of Japanese global shipping company NYK Line, announced last week that it was discussing a joint venture with Japan Airlines (JAL) in the form of ‘code sharing’ for cargo flights between Japan and the US. The two airlines are the largest air freight carriers out of Japan.
The move is a direct result of, “the unprecedented market shrinkage and slump caused by the worldwide depression… and also from the structural stagnation over the last several years,” according to NCA. Services under the planned new agreement are scheduled to start this summer (2009).