Japan’s ANA Holdings—the parent company of All Nippon Airways, Peach Aviation and Vanilla Air—expects profits at its two low-cost affiliates to grow fastest until 2022 as the carriers continue to expand. ANA, which published its mid-term corporate strategy for 2018-2022 on Feb. 1, expects the two carriers to double their operating income in the next five years as they grow the fleet from the current 35 aircraft to 55. Peach’s main base is at Kansai International ...

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