Japan's All Nippon Airways has dropped its plan to buy a 49% stake in a Myanmar airline, blaming "intensified" competition in the country as it quickly emerges from years of economic isolation.
Airport staff walk by an Asian Wings aircraft at Yangon's international airport last year. Japan's All Nippon Airways has cancelled plans to acquire a 49% stake in Myanmar airline AWA. (AFP photo)
ANA Holdings - the airline's parent company - announced last year that it planned to invest about $25 million in Asian Wings Airways.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.