All Nippon Airways takes stake in Vietnam Airlines
Monday, 13 Jan, 2016
0
The chief executive officer of Vietnam Airlines has announced the carrier will sell a 8% stake to ANA Holdings Inc., owner of All Nippon Airways.
ANA will pay $109 million for the stake, Pham Ngoc Minh said.
"We chose ANA since they’re a big, prestigious airline with a large market that does not compete with ours. ANA’s experience and strengths will help Vietnam Airlines expand," Minh said, adding that the deal will close by June 2016.
The two airlines could discuss more stake sales in the future, Minh said.
ANA had been eyeing potential investments in Asia airlines for about two years and came close to purchasing a stake in Myanmar’s Asian Wings Airways in 2014.
Last year, Vietnam Air confirmed it was on the lookout for a strategic partner and was willing to give up 20% of its shareholding.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...
France prepares for a massive strike across all transports on September 18
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt