Japan Airlines System Corp. said Thursday it will raise its stake in Japan Asia Airways to 100 percent from the current 90.5 percent on April 1 through an equity swap deal.
In the deal, one share in Japan Airlines System will be exchanged for 18.33 shares in Japan Asia Airways, Japan Airlines System said in a press release.
Japan Asia Airways operates flights between Japan and Taiwan.
Japan Airlines System is a holding company created in October 2002 for Japan Airlines and Japan Air System.
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