ANA Holding's takeover of freighter operator Nippon Cargo Airlines has been delayed until May as the airline awaits regulatory approval.

In its latest update on the deal, ANA Holdings said the share exchange would no longer go ahead on March 31 as planned but would instead take place on May 1.

The deal has been pushed back several times as the company has sought regulatory approval.

"The share exchange will be implemented subject to the approvals of the relevant authorities," ANA Holdings said.

"Taking into consideration the time to complete the review of the business combination that will result from the share exchange by the relevant authorities in China, the company decided to change the effective date of the share exchange from March 31 to May 1."

ANA first announced its plans to purchase Boeing 747-8 freighter operator NCA from the NYK shipping group in March 2023 and had originally anticipated it would complete the deal on October 1, 2023.

However, the takeover date has now been pushed back five times, writes London's Air Cargo News.