Asia Wings to enter joint partnership with Japan's ANA

Local carrier Asia Wings Airways is expected to sign a joint venture with Japan's All Nippon Airways this year, according to company director.

Asia Wings executive director Lwin Moe, told the reporters on Wednesday that the airline will buy 10 more airbuses and will continue to operate under its own name, launching international flights by October 2014.

"The two airlines will cooperate in expanding local and international flights, acquiring new airplanes, and gaining internationally recognised standards of safety and services," said Lwin Moe.

Foreign investment in local airlines was not allowed in the past, which makes Asia Wings the first local airline to enter a joint venture with a foreign airline.

The two airlines are expected to sign an agreement at the end of this year. All Nippon Airways (ANA) will acquire 49 percent of the shares while Asia Wings will maintain 51 percent in line with the Foreign Investment Law.

ANA currently flies three times a week from Tokyo to Yangon and will start offering direct flights starting from September 30.

Asia Wings officials also dispelled rumours of the airline was to become a sister airline of Air Bagan airline, owned by local tycoon Tay Za. They insisted that the two airlines have no relations with each other.

 

source: Eleven Myanmar

http://elevenmyanmar.com/business/3229-asia-wings-to-enter-joint-partnership-with-japan-s-ana