Local carrier Asia Wings Airways
is expected to sign a joint venture with Japan's All Nippon Airways
this year, according to company director.
Asia Wings executive director Lwin Moe,
told the reporters on Wednesday that the airline will buy 10 more
airbuses and will continue to operate under its own name, launching
international flights by October 2014.
"The two airlines will cooperate in
expanding local and international flights, acquiring new airplanes, and
gaining internationally recognised standards of safety and services,"
said Lwin Moe.
Foreign investment in local airlines was
not allowed in the past, which makes Asia Wings the first local airline
to enter a joint venture with a foreign airline.
The two airlines are expected to sign an
agreement at the end of this year. All Nippon Airways (ANA) will
acquire 49 percent of the shares while Asia Wings will maintain 51
percent in line with the Foreign Investment Law.
ANA currently flies three times a week from Tokyo to Yangon and will start offering direct flights starting from September 30.
Asia Wings officials also dispelled
rumours of the airline was to become a sister airline of Air Bagan
airline, owned by local tycoon Tay Za. They insisted that the two
airlines have no relations with each other.
source: Eleven Myanmar
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