Japan’s ANA buys stake in Myanmar airline

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Asian wingsAll Nippon Airways, or ANA, has said on August 27 it is buying a 49 per cent stake in Myanmar carrier Asian Wings Airways, a small private airline based in Yangon.

It is the first foreign investment in Myanmar’s airline industry since the country opened its economy in 2011.

ANA will pay just $30.45 million for the stake.

Asian Wings, launched in 2011, operates currently a fleet of 3 turboprop ATR 72 regional aircraft and one Airbus A321 on domestic flights in Myanmar two major touristic destinations. The owner is private travel agency Sun Far Travels and Tours Company, one of the largest in Myanmar.

The airline will begin international services in October 2012 with a flight between Yangon and Chiang Mai, Thailand. ANA resumed flights between Tokyo and Yangon last October after a 12-year hiatus.

In addition to leasing aircraft to Asian Wings, ANA may also provide training to its pilots.

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Reading Time: 1 minute

All Nippon Airways, or ANA, has said on August 27 it is buying a 49 per cent stake in Myanmar carrier Asian Wings Airways, a small private airline based in Yangon.

Reading Time: 1 minute

Asian wingsAll Nippon Airways, or ANA, has said on August 27 it is buying a 49 per cent stake in Myanmar carrier Asian Wings Airways, a small private airline based in Yangon.

It is the first foreign investment in Myanmar’s airline industry since the country opened its economy in 2011.

ANA will pay just $30.45 million for the stake.

Asian Wings, launched in 2011, operates currently a fleet of 3 turboprop ATR 72 regional aircraft and one Airbus A321 on domestic flights in Myanmar two major touristic destinations. The owner is private travel agency Sun Far Travels and Tours Company, one of the largest in Myanmar.

The airline will begin international services in October 2012 with a flight between Yangon and Chiang Mai, Thailand. ANA resumed flights between Tokyo and Yangon last October after a 12-year hiatus.

In addition to leasing aircraft to Asian Wings, ANA may also provide training to its pilots.

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