Monday, February 21, 2011

Spring Airlines to start cheaper flights to Shanghai: Kyowa Hakko Kirin acquires ProStrakan

Spring Airlines, a Chinese low-cost carrier, on February 20, 2011, announced that it will charge 3,000 yen to limited number of passengers for one way tickets for regular charter flights between Takamatsu Japan and Shanghai.

Wang Zhengua, Chairman, Spring Airlines, made the announcement at a press conference at the government office of the Kanagawa prefecture. The service, starting from March, will carry 18 passengers on a 180-seat Airbus A320. From the second month the price of the seats will be raised to 4000 yen. He said that tickets for the remaining 162 seats will be priced at 6000 yen.

The chartered flights will arrive in Takamatsu in the morning on Tuesdays, Thursdays, Fridays and Sundays and would depart for Shanghai in the afternoon.

On February 21, 2011, Scottish bio-tech firm, ProStrakan, had been acquired by Japanese drugmaker, Kyowa Hakko Kirin (KHK) for £292 million.

KHK would pay 130p cash for each ProStrakan share, 40 percent higher than the last day trading price of the stock of the pharmaceuticals prior to putting itself on the auction.

ProStrakan produces painkillers for people suffering from cancer and people undergoing chemotherapy in Europe and the U.S. Post the buy-out news, shares of ProStrakan went up by 20 percent.

With this acquisition, KHK would be able to get into the European and the U.S market.

Related articles:

London Evening Standard

Japan Today