ANA to Take Stake in Vietnam Airlines
Japan’s All Nippon Airways has signed a memorandum of understanding with Vietnam Airlines to acquire an 8.8% stake for 2,431 billion Vietnamese dong ($108 million).
The deal values the Southeast Asian carrier at approximately $1.2 billion.
As part of the agreement, ANA will appoint a member to the board of Vietnam Airlines. The carrier will also assist Vietnam Airlines with operational and management advice and support.
The partnership is currently subject to approvals from Vietnamese government authorities.
Vietnam Airlines was founded in 1956 as Vietnam Civil Aviation and became government owned in 1989. The Vietnamese flag carrier flies to 52 destinations in 17 countries and is a member of the SkyTeam alliance.
The airline currently offers 66 weekly flights between Japan and Vietnam, while ANA offers 14 weekly flights between the two countries.
(Photo: Accura Media Group)