ANA buys stake in Myanmar airline
Guest Writers are not employed, compensated or governed by TD, opinions and statements are from the specific writer directly
ANA is expanding its reach into Southeast Asia with the acquisition of a major stake in Myanmar-based Asian Wings Airways.
The Japanese carrier announced today (27 August 2013) that it will take 49% stake in the Yangon-based carrier, in a deal worth US$25 million. Following the acquisition, ANA said it planned to help Asian Wings to achieve its strategy of expanding into new international markets.
Currently Asia Wings only operates domestic flights using a fleet of four aircraft – three ATR72-500s and one Airbus A321. Following the deal with ANA however, it plans to launch its first international routes from October this year and expand its aircraft fleet to 10 A320 aircraft by 2018.
ANA said the investment in line with its group strategy, “which involves diversification into new growth areas, centred primarily around airline-related businesses particularly in the Asian area”.
The deal also represents the first investment in a Myanmar-based commercial carrier by an international airline.
ANA also announced today that it plans to increase the number of flights between Tokyo Narita and Yangon from three per week to daily, as well as deploying a larger aircraft on the route. ANA became one of the first international airlines to resume flights to Myanmar after the country began opening its borders to foreign tourism and investment.
The Asia Wings deal following ANA’s recent acquisition of the Pan Am Flight Academy, the US-based pilot training school, which it now plans to expand in Asia.
Comments are closed.