All Nippon Airways (ANA) has finalised a deal to purchase an 8.8% stake in Vietnamese flag carrier Vietnam Airlines. The deal, valued at VND2.43 trillion ($109 million), follows an MoU announced on the London stock exchange on January 12 (see Airliner World, March 2016) that outlined an increase in codesharing opportunities and other joint operational activities between the two carriers.
ANA said the codeshare facility will include 30 domestic routes within Japan and Vietnam as well as ten international links between the two countries. It also reinforced the message that the investment in Vietnam Airlines is part of its mid-term business strategy to expand and invest in high-growth areas, particularly in Asian airline-related businesses.
Pham Ngoc Minh, Vietnam Airlines’ CEO, commented: “This agreement is a key move in the airline’s drive to improve and increase our competitiveness in international markets. Also through an exchange of industry know-how it will help us to expand our market, improve service quality and achieve higher efficiencies.”