ANA's investment in Asian Wings Airways could make it Myanmar’s largest international airline

Japan's All Nippon Airways (ANA) will gain a strategic foothold in Myanmar, one of Asia's most dynamic and fastest growing markets, following an unusual move to acquire a 49% stake in Asian Wings Airways (AWA). Asian Wings is a small little known domestic carrier, but with financial and management support from ANA could quickly become Myanmar's largest international airline.

The ANA-AWA surprising partnership is significant as it marks ANA's first investment in a carrier outside Japan and marks the first overseas investment in any Myanmar carrier. In both cases it will likely not be the only example for long.

ANA is looking to acquire stakes in several Asian carriers as part of its new strategy aimed at diversifying the group's portfolio. Meanwhile, other Myanmar carriers are looking to secure potential investment from foreign airline groups, including LCC groups. Several Southeast Asian LCCs have been looking at establishing a joint venture or affiliate in Myanmar while the country's other full-service carriers could also attract interest.