Regional Round-Up
ANA buys into emerging Myanmar market
October 1st 2013
Aviation pace setter, All Nippon Airways (ANA), will invest $25 million to acquire 49% of Myanmar airline, Asian Wings Airways (AWA), as part of its strategic plan to develop new international markets. It is the first investment in a Myanmar commercial airline by a foreign carrier.Read More »
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| All Nippon Airways: invested $25 million in Myanmar carrier |
ANA said it will work with AWA, a profitable domestic airline, to improve its operations and scheduling and launch regional services from mid-month.
Yangon-based AWA operates a fleet of three ATR-72 500s and one A321, which it will expand to 10 A320s in the next five years.
In September, ANA increased its services between Tokyo-Narita and Yangon from three a week to daily and will introduce larger airplanes on the route to feed from AWA’s domestic network.
ANA said its investment in AWA was part of the group’s corporate strategy to diversify into new growth areas centred around airline related businesses in Asia.
The completion of the acquisition is conditional on receiving approval form the relevant Myanmar authorities and the signing of the final agreement between ANA, AWA and its shareholders.
