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13-Jan-2016 7:29 AM

ANA Group and Vietnam Airlines agree business and capital partnership

All Nippon Airways parent ANA Holdings and Vietnam Airlines confirmed (12-Jan-2016) they have reached a basic agreement to form a capital and business alliance, allowing the airlines to capitalise on 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. Under the agreement, ANA will acquire an 8.8% stake in Vietnam Airlines from the Vietnamese government for USD108 million. ANA Holdings CEO Shinya Katanozaka said Vietnam Airlines is the "ideal partner" for the group, adding "Asia is a key growth market for ANA Group as we expand our international footprint." ANA Group will dispatch one member to the board of Vietnam Airlines and will also provide Vietnam Airlines with operational and management know-how to help support service quality. [more - original PR - English/Japanese]

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