NYK Signs Heads of Agreement with Jett8 Airlines Cargo
February 13, 2007
NYK Line (NYK; Head office: Chiyoda-ku, Tokyo; President: Koji Miyahara) has signed a heads of agreement outlining the main issues relevant to a partnership with Jett8 (Chairman and CEO: Louis Tan), a new international cargo airline based in Singapore. At the same time, Nippon Cargo Airlines (NCA; Headquarters: Tokyo; President: Takuro Uchiyama), a subsidiary of NYK, has reached an agreement with Jett8. The gist of the agreement with NCA is as follows:
- By the spring of this year, Jett8 will obtain from the government of Singapore an air-operator's certificate and the air-traffic rights required to operate the company's scheduled international network. At the same time, Jett8 will build a competitive business infrastructure to support operations. Initially, Jett8 will serve the Singapore-Hong Kong-Singapore route and the Singapore-Europe-Middle East-Singapore route, as well as intraregional Southeast Asian routes.
- NCA will sell a B747-200F to Jett8 this spring. At the same time, NCA will receive a block of space from the new airline. In addition, NCA will provide GSA services in the countries that Jett8 serves.
- NCA will cooperate with Jett8 by providing aircraft. Jett8 will not only fly routes to Europe and the Middle East but also will work to create new routes to China, India, Russia, and areas throughout the pacific in the near future.
The government of Singapore has already signed open-sky agreements with the European Union, the United States, India, and China (contains some limitations) and is currently involved in negotiations for intraregional open-sky measures among ASEAN states.
NCA, through this business collaboration, will not only enhance its network through Singapore and Hong Kong but will also acquire direct access to the fast-growing trades between Asia and North America / Europe.