Japan's Airdo to set up holding firm with Solaseed Air to cut costs

Economy Society

Japanese regional airlines Airdo Co. and Solaseed Air Inc. said Monday they will set up a holding company in October 2022 to reduce costs through joint aircraft maintenance and procurement of supplies. As part of efforts to improve their financial standing, hit hard by the coronavirus pandemic, Airdo and Solaseed also said they will raise 7 billion yen ($64 million) and 2.5 billion yen, respectively, in fresh capital, by issuing preferred shares to the state-backed Development Bank of Japan and regional banks. Airdo, headquartered in Sapporo in the country's northernmost major island of Hokkai...

Kyodo News

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