ANA ditches Myanmar's Asian Blue airline project
ANA Holdings has dropped a plan to form a joint venture in Myanmar, the company said Monday, after its application for an AOC was rejected by the authorities in the Southeast Asian country. ANA established the Asian Blue joint venture last year with local investor Golden Sky World, owned by property-to-banking conglomerate Shwe Than Lwin. ANA had agreed to take a 49% stake in the airline, which would have focused on international routes, in anticipation of growing demand as Myanmar opens up following decades of military rule. Asian Blue was ANA's second attempt at investing in Myanmar. In 2014 it scrapped a plan to buy a 49% stake in Asian Wings Airways after growing competition made the investment too risky. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-11-07/star/ana-ditches-myanmars-asian-blue-airline-project
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ANA ditches Myanmar's Asian Blue airline project
ANA Holdings has dropped a plan to form a joint venture in Myanmar, the company said Monday, after its application for an AOC was rejected by the authorities in the Southeast Asian country. ANA established the Asian Blue joint venture last year with local investor Golden Sky World, owned by property-to-banking conglomerate Shwe Than Lwin. ANA had agreed to take a 49% stake in the airline, which would have focused on international routes, in anticipation of growing demand as Myanmar opens up following decades of military rule. Asian Blue was ANA's second attempt at investing in Myanmar. In 2014 it scrapped a plan to buy a 49% stake in Asian Wings Airways after growing competition made the investment too risky. <br/>
