Tuesday, January 12, 2016
Japan’s ANA to Acquire 8 Percent Stake in Vietnam Airlines
|Vietnam Airlines airplane. Photo: Airbus|
[Avionics Today 01-13-2016] Japan’s All Nippon Airways (ANA) group will acquire an 8.8 percent stake worth $108 billion in Vietnam Airlines. The partnership will also provide for the ANA Group and Vietnam Airlines to take advantage of the increasing demand for air services in the Asian market.
“The cooperation with ANA Group will help Vietnam Airlines acquire new management technologies, expand the market, improve service quality, increase competitiveness on international markets,” said Pham Viet Thanh, chairman of Vietnam Airlines.
In addition, the ANA Group will dispatch one member to the board of Vietnam Airlines and will also provide Vietnam Airlines with operational and management knowhow to help support service quality. Vietnam Airlines currently operates 66 flights weekly on ten routes between Japan and Vietnam. ANA operates fourteen flights weekly on two routes.
Vietnamese government authorities still need to approve the partnership and the two airlines will have to conclude a definitive agreement concerning business and capital partnerships before the partnership can be implemented.