The ANA Group has announced that it will acquire a 49 per cent stake in the Myanmar-based Asian Wings Airways (AWA). The acquisition represents the first foreign investment in an airline based in the Southeast Asian country.
As per the agreement, ANA Group will invest 2.5 billion yen (US$25 million) in AWA, to help facilitate its plans to expand into new international markets. AWA currently only operates domestic services. The airline hopes to inaugurate international routes from October this year.
Along with the financial investment, ANA will also work with AWA to improve its operational and on-time performance.
AWA will also be expanding its current fleet of one Airbus A321-100 and one ATR 72-500 with the addition of ten A320 aircraft by 2018.
The investment in AWA is in line with ANA’s group corporate strategy for FY2013-2015 which involves diversification into new growth areas, centred primarily around airline-related businesses particularly in the Asian area.
For more information, visit www.ana.co.jp