The ANA Group and Vietnam Airlines have entered into a Memorandum of Understanding (MOU) for the ANA Group to acquire a stake in Vietnam Airlines of approximately 8.8% worth 2,431 billion Vietnamese dong (US$108 million).
The partnership will also provide for the ANA Group and Vietnam Airlines to enable both to take maximum advantage of the increasing demand for air services in the Asian market and, in particular, in the Cambodia-Laos-Myanmar-Vietnam group of countries which has one of the highest growth potentials in the region.
Shinya Katanozaka, CEO of Ana Holdings, said:
“Asia is a key growth market for ANA Group as we expand our international footprint and Vietnam Airlines makes the ideal partner for us because we share the same high standards and approach to customer service and efficiency. We look forward to completing this strategic investment and launching our partnership so we can serve our passengers even better.”
Pham Viet Thanh, Chairman of Vietnam Airlines said:
“We appreciate the cooperation with ANA Group to participate in the administration and long-term development of the Vietnam Airlines Corporation. ANA is one of the leading airlines in the region and in the world. The cooperation with ANA Group will help Vietnam Airlines acquire new management technologies, expand the market, improve service quality, increase competitiveness on international markets. I strongly believe this comprehensive cooperation will enhance the value, brand and image of Vietnam Airlines”.
In addition, the ANA Group will dispatch one member to the board of Vietnam Airlines and will also provide Vietnam Airlines with operational and management knowhow to help support service quality. Vietnam Airlines currently operates 66 flights weekly on ten routes between Japan and Vietnam. ANA operates fourteen flights weekly on two routes.
Implementation of the partnership is subject to necessary approvals being obtained from Vietnamese government authorities and the conclusion of definitive agreements concerning the business and capital partnership between the ANA Group and Vietnam Airlines.