(MenaFn) Japan"s All Nippon Airways (ANA) planned to buy 49 percent stake of the latest foray into the rapidly-opening and potentially lucrative Southeast Asian market, Myanmar airline, according to Peninsula.
ANA Holdings " the parent of one of Japan"s major airlines " said: "ANA Group will invest $25m (2.5bn yen) for AWA (Asian Wings Airways) as part of its stated strategy of expanding into new international markets."
The Japanese airline will offer three flights a week between Narita in Tokyo and Yangon after functioning larger aircraft.
The company stated: "As part of the investment, ANA will also work with AWA to improve its operational and on-time performance and support its expansion into markets outside Myanmar."
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