Japan's ANA takes stake in Vietnam Airlines
January 12, 2016
Published on Jan 12, 2016
By Mark Elliott
ANA Group to take 8.8% stake in Vietnam's national carrier and appoint a director
The ANA Group, which owns Japan's largest airline, has agreed to acquire a stake in Vietnam Airlines.
The two companies have entered into an agreement that will see ANA pay VND2.43 trillion (US$108 million) for an 8.8% shareholding in Vietnam's state-owned national carrier.
The move forms part of ANA's strategy of investing in the fast-growing Southeast Asian aviation sector; in 2013 the company signed a deal to take a 49% stake in Myanmar's Asian Wings Airways, although this was subsequently cancelled. It has also teamed up with Thailand's Nok Air to open a pilot training school in Bangkok, having acquired the Pan Am International Flight Academy in 2013.
"Asia is a key growth market for ANA Group as we expand our international footprint, and Vietnam Airlines makes the ideal partner for us because we share the same high standards and approach to customer service and efficiency," said Shinya Katanozaka, CEO of ANA Holdings. "We look forward to completing this strategic investment and launching our partnership so we can serve our passengers even better."
Pham Viet Thanh, chairman of Vietnam Airlines, commented; "We appreciate the cooperation with ANA Group to participate in the administration and long-term development of the Vietnam Airlines Corporation."
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