Japan’s ANA buys stake in Myanmar airline

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2099

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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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. 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...

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.

Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

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