ASIANA AIRLINES and ANA to Enter Equity Partnership.Tokyo, Japan, May 30, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - At a press conference held in Seoul this morning, ASIANA AIRLINES Asiana redirects here. There is also a British Asian magazine called Asiana. | Asiana Airlines (아시아나 항공 Asiana Hanggong KOSDAQ: 020560) (Formerly Seoul Airlines and ANA (All Nippon Airways) announced a cross-shareholding agreement as part of their strategic alliance to strengthen bilateral ties across the board. The scope and level of cooperation was agreed by a specially commissioned task force team, following months of preparation that resulted from the signing of a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. by the CEOs of both companies on December 5, 2006. Speaking at the press conference, ASIANA President Mr. Joo-an Kang said, "We are delighted to be here and reveal the next step in our relationship with fellow Star Alliance partner, ANA. What we have announced today will bolster our respective route networks and create synergies for improved profitability and greater customer satisfaction. And the mutual holding of shares in each other's company is a symbol of our commitment to work ever more closely together to the benefit of our passengers." ANA President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Mr. Mineo Yamamoto, who with Mr. Kang signed the agreement on behalf of both companies, added, "ASIANA has been a valued partner of ANA since 1990, and we share similar ideals, histories and service ethos. It is our sincere wish that this new stage in our partnership will serve the needs of customers travelling between both nations and, while bringing commercial advantages to ASIANA and ANA, further the friendly ties between the people of Korea and Japan." Collaboration will extend to the following areas: Cross-shareholding Each company will take a US$12,000,000 stake in the other. Code-sharing One of the first decisions of the task-force team was to implement an extension of the existing ASIANA-ANA code-sharing agreement to all 18 Korea-Japan routes operated by both companies -154 flights per week- in February this year. In a further move, from July 1 this year, ANA operated international flights between Narita and Honolulu will begin carrying the ASIANA flight code. The companies first began code-sharing on passenger flights between Seoul and Japan in 2000, and also on all freighter flights between the two countries in March 2005. Sales and Marketing The two companies will begin preparations for a future 'triangle service' between Seoul Gimpo, Tokyo Haneda and Shanghai Honqiao, to provide added convenience to passengers and contribute to a more active exchange between the three countries. To further increase revenue, ASIANA and ANA also will fortify for·ti·fy v. for·ti·fied, for·ti·fy·ing, for·ti·fies v.tr. To make strong, as: a. To strengthen and secure (a position) with fortifications. b. To reinforce by adding material. joint corporate sales efforts and share mid and long term corporate goals. Operations and Airport Services Cooperation at the 19 overseas airports served by both ASIANA and ANA to explore avenues to reduce costs and improve airport services. The airlines will also share information on spare parts Spare parts, also referred to as Service Parts is a term used to indicate extra parts available and in proximity to the mechanical item, such as a automobile, boat, engine, for which they might be used. Spare parts are also called “spares. at major overseas gateways, and create a system to support each other in case operational irregularities or emergencies should arise. Purchasing Joint purchasing of fuel in designated regions, and exchange of related information. In-flight Services Joint cabin crew cabin crew cabin n (Aviat) → équipage m training and co-development of in-flight materials and entertainment programmes in both Korean and Japanese. Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. Exchange of personnel and joint training programs where deemed mutually beneficial. About All Nippon Awys Ltd. All Nippon Airways (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 9202), or ANA, is the seventh largest airline in the world by passenger load (IATA IATA International Air Transport Association, which sets the rules for air transport, including those concerning air transport of animals. ranking) and Japan's largest domestic carrier. It is listed on the Tokyo Stock Exchange Tokyo Stock Exchange Main stock market of Japan, located in Tokyo. It opened in 1878 to provide a market for the trading of government bonds newly issued to former samurai. with a market capitalisation of US$8.1bn (JPY JPY In currencies, this is the abbreviation for the Japanese Yen. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 932bn) as of 29 Sep 2006. Carrying almost 50 million passengers every year to 50 destinations in Japan and 23 cities throughout Asia, Europe and the United States, ANA is recognized for outstanding passenger service both on the ground and in the air. In the greatest Japanese tradition of mixing hospitality with high technology, personalised a la carte service complements state-of-the-art entertainment systems and the latest in cabin design. ANA has been in the airline business for over 50 years, and combined with ANA Group companies, its activities extend across a host of complete travel and aviation-related services. For more information, please visit www.ana.co.jp. Source: All Nippon Awys Ltd. Contact: ASIANA AIRLINES Chayoun LEE Rob Tel: +82-2-2669-3835 E-mail: leecy@flyASIANA.com ANA Public Relations HENDERSON Tel: +81-3-6735-1116 E-mail: r.henderson@ana.co.jp Japan Corporate News Network. All rights reserved. |
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