ANA plans $2.6bn new share sales
FG_AUTHORS: Super User
4 July 2012
Last updated at02:44
ANA is seeking to acquire more Boeing 787 planes in a bid to expand its international operations
ANA is seeking to acquire more Boeing 787 planes in a bid to expand its international operations
Japan's All Nippon Airways (ANA) has said that it plans to raise as much as $2.6bn (£1.6bn) by selling new shares to fund its expansion plans.
The airline said it will use the money to acquire new planes, including Boeing 787s, and to bolster its finances.
ANA has been facing growing competition from rival Japan Airlines amid a turnaround in the latter's business after its recent bankruptcy.
The share sale will be the largest by a Japanese firm this year.
The airline said in a statement that the sale will help it to establish "a financial base that is able to respond in a timely and flexible manner to future growth opportunities".
