ANA Holdings

Breaking the 45/47 wall: scheduled international service (1986)

Key decision·1986· ANA Holdings — the full company history →

A latecomer’s 33-year push through a regulatory ban

The heart of this decision was not opening one route but refusing, for three decades, to accept a permanent role as a domestic-only carrier. The 45/47 regime handed international service to Japan Airlines and left ANA holding wide-bodies and trained crews it was legally barred from flying abroad. ANA fought the wall on the regulators’ own terms — a written pledge extracted from a transport minister in 1974, then killed by the Lockheed scandal — and, when passengers were still blocked, went around it with freight, seconding enough staff to Nippon Cargo Airlines to turn a 10% stake into a wedge. The 1986 Tokyo–Guam launch, in the company’s 33rd year, was the payoff of a latecomer that would not let regulation fix its ceiling.

What the decision reveals is the disposition that defines ANA: a challenger’s insistence on catching the leader, pursued patiently through politics rather than abandoned. President Taizo Nakamura framed the aim as “worldwide,” not a cautious Asia-only toehold — the same all-or-nothing reach that would later carry ANA past JAL in Haneda slots and in international passengers. Yet the very persistence that broke the wall also committed the company to a capital-hungry global build-out it had far less time and network depth to fund than the incumbent — the structural handicap it would spend the next decade closing by alliance rather than by flying every route itself.

Revenue and net margin, FY1981–FY1991

Revenue in ¥ bn (bars) and net margin in % (line), for the years around the decision. Shaded columns are FY1986 onwards — after it was taken.

Source: securities reports

Read the full history in Japanese →

This decision is covered inside the company's full Japanese history, alongside the financial tables, shareholders and executives.

Other key decisions at ANA Holdings


Yen amounts are converted at the average rate of each figure’s own year — not today’s rate; the revenue chart is shown in yen. Exchange rates & sources — the full ¥/US$ table →


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