ANA Clips Asia Wings Investment

ANA Holdings, the parent company of All Nippon Airways (ANA), has announced it is withdrawing from an equity investment in Asia Wings Airways (AWA).

ANA Holdings, the parent company of All Nippon Airways (ANA), has announced it is withdrawing from an equity investment in Asia Wings Airways (AWA).

ANA had originally decided to invest $25m in the Myanmar-based airline back in August 2013, acquiring a 49 per cent stake in AWA.

However, ANA’s board of directors has reversed its decision arguing: “Competition between new and old airlines in Myanmar has intensified, bringing rapid changes … and calling into question the assumptions made at the time of the original decision.”

TAGS: Asia Pacific
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