ANA mulling stake in Vietnam Airlines
Tuesday, 07 Oct, 2015
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ANA Holdings, which operates major Japanese carrier All Nippon Airways is eyeing up a potential stake in Vietnam Airlines.
Shinichiro Ito, ANA chairman, said it was in discussion with ‘several carriers’ with Vietnam Airlines thought to be among them, according to a Financial Times report.
ANA has long been seeking a strategic partnership with a South East Asia airline and last year pulled out of a deal to invest $25 million in Myanmar’s Asian Wings Airways.
The ANA Group owns Japanese budget carriers Peach and Vanilla Air and recently led a rescue plan for bankrupt Skymark with a 16.5% stake.
Analyst Ryota Himeno expects to see more consolidation among Asian carriers within the next few years.
"With low-cost carriers increasing their market share, legacy carriers will come under pressure and consolidation is likely to happen. ANA is carefully monitoring those opportunities." Himeno said.
The report says the Vietnam government is willing to sell an additional 20% stake in Vietnam Airlines to an airline partner after selling off 5% last year in a public offering.
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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.
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