Japanese carrier set to be first to land stake in local airline

TUESDAY, AUGUST 27, 2013
Japanese carrier set to be first to land stake in local airline

The parent company of Japan's All Nippon Airways says it plans to buy a 49-per-cent stake in Myanmar's Asian Wings Airways, the first foreign investment in the country's airline industry.

AWA operates domestic routes in Myanmar and is profitable. ANA said the airline, founded in 2011, plans to begin operating on international routes from October.    
ANA says it plans further expansion in fast-growing Asian markets. Beginning September 30, the airline will begin operating daily flights between Tokyo and Yangon.