 Posted: Tue 19:33, 26 Nov 2013 Post subject: -- ANA Holdings Inc. |
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| Japan's ANA invests $25 million to acquire stake in Myanmar's AWA
TOKYO, Aug. 27 () -- ANA Holdings Inc.,[url=http://www.ferragamooutletu.com/]ferragamo outlet[/url], parent of Japan's All Nippon Airways, announced Tuesday it will acquire a 49 percent stake in Myanmar's Asian Wings Airways.The company on its web site said it will invest $25 million (2.5 billion yen) in Asian Wings as part of a strategy to expand into new international markets.Under the deal, ANA said it will work with AWA to improve its operational and on-time performance and support its expansion into markets outside Myanmar, formerly Burma.AWA is a profitable airline currently operating only domestic routes but plans to inaugurate international routes from October this year,[url=http://www.cheapchristianloubouting.com/]cheap christian louboutin[/url], the announcement said. Its plans call for expanding its fleet and operate 10 A320 planes by 2018. In the fiscal year that ended in March, AWA reported revenues of $17.8 million.ANA said its investment is in line with its strategy involving diversification into new airline-related growth areas, particularly in Asia.ANA plans to increase the number of flights between Tokyo-Narita and Yangon (formerly Rangoon) from three flights a week to seven and also introduce larger aircraft on the route.ANA Holdings currently has 235 planes flying to 84 destinations. |
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