ANA Holdings to purchase 49% stake in Asian Wings Airways: report

ANA Holdings reportedly plans to purchase 49% stake in Asian Wings Airways for under JPY3.0 billion (USD30.6 million) as it continues its international strategy to capture the fast growing passenger demand particularly in Southeast Asia, where rapid economic growth is expected. According to reports from Nikkei and NHK, the decision would mark ANA's first strategic investment under its current business strategy with the carrier looking for growth opportunities in Asia outside Japan by investing in local peers as growth for travel demand in its home market is expected to slow. Asian Wings Airways was established in 2011 and currently operate domestic services in Myanmar.