News Contributed by : PK Chai
Report Edited by : Gan Yung Chyan
/ KUCINTA SETIA
Distributed to All Press & Travel Professionals
All Nippon Airways has taken up a 49 per cent stake in Asian Wings Airways – the first time a foreign international carrier has invested in an airline in Myanmar. It has also revealed plans to increase its frequency from Tokyo Narita to Yangon from three flights a week to seven flights per week at the end of September.
All Nippon Airways' investment of 25 million Dollars in the Myanmar carrier was in line with its plans to expand into international markets and to capture “an increasing share of the fast-growing Asian airline market”. All Nippon Airways and Asian Wings Airways would also work to improve connectivity within Myanmar, which would complement the Japanese airline's route network.
Myanmar has recently opened to international tourism and it is tipped to be a major Asian leisure and cultural destination in the coming years.
As part of the investment, ANA will also work with Asian Wings Airways to improve its operational and on-time performance and support its expansion into markets outside Myanmar.
Asian Wings Airways currently operates domestic services and a regional flight to Chiang Mai. It plans to inaugurate international routes from October this year and intends to expand its aircraft fleet with a goal of operating ten A320 aircraft by 2018. For the fiscal year ending March 2013, it reported revenue of US$17.8 million US Dollars.
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