It is the first time that a budget airline for Japan will be introduced. The All Nippon Airways has been joined by Fits Eastern Investment Group, which is a Hong Kong-based fund run by Victor Chu. This would be aim for bringing a boom in the Chinese travel industry, which would further prompt other travel industry investments in Japan, as anticipated by the Hong Kong-based firm.

But, it has been said that the firm wouldn’t make the further acquisitions so early, because of the strong Yen. Instead, First Eastern Chairman Victor Chu quipped that they would rather prioritize to get the airline up and would use the increasing demand between the route of Japan and China, to gain advantage.

So this low-cost airline will be supported by the funds of the Hong Kong-based private equity and would provide international service to the travelers. This new airline will be introducing its services from the second half of next year. It’ll be base from Kansai International Airport in Osaka.

The First Easter Investment Group has decided to invest 5 billion Yen ($59.8 million) for a stake of 33.3%; and in this, the rest of the Japanese investors will have a hold of 66.7% stake that includes 39% stake by ANA.