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| Under the deal, ANA Holdings will complete the purchase of 8.77 per cent of Vietnam Airlines' stake worth VND2.43 trillion (US$109 million) by July 1. — File Photo |
TOKYO (Biz Hub) — Japan's biggest airline ANA Holdings has officially became the main strategic partner of the Vietnamese national flag carrier Vietnam Airlines under a US$109 million deal signed on Saturday.
Under the deal, ANA Holdings will complete the purchase of 8.77 per cent of Vietnam Airlines' stake worth VND2.43 trillion (US$109 million) by July 1.
The strategic co-operation will facilitate Vietnam Airlines (VNA) and its Japanese partner to exploit and make use of their strengths to expand flight routes and develop services.
Accordingly, since June 30, Vietnam Airlines and ANA Holdings will co-operate on 30 domestic routes in Japan and Viet Nam as well as 10 international routes between the two nations.
The two sides will also join hands in services such as check-in procedures, cargo, transport and dining services, aircraft maintenance and other ground services in Viet Nam's and Japan's airports.
ANA Holdings will appoint a representative to be a member of the Vietnam Airlines' Board of Directors to share management experiences, improve service quality and optimise operations.
The Japanese partner and its subsidiaries committed to provide technical assistance to Vietnam Airlines in managing human resources, building plans of flight routes, flight schedules and air crew development, maintaining airplanes, and developing information technology.
Speaking at the signing ceremony, general director of ANA Holdings Shinya Katanozaka said that he was pleased to share long-accumulated experience with VNA to contribute to the growth and development of both sides.
Through such co-operation in the fields of business and investment, ANA group would accelerate the economic and cultural ties between Japan and Asian countries as well as boost Japanese tourism.
VNA General Director Pham Ngoc Minh, who has been elected to be the corporation's chairman from June 1, said seeking partners and increasing capital sources for the enterprise was an important part of its effort to restructure and to improve their competitiveness in the international arena.
Co-operating with ANA Holdings would help VNA to be more confident in renovating its fleets, expand markets and increase operational efficiency, Minh added.
ANA Holdings Group is a parent company of All Nippon Airways and low-cost Vanilla Air. All Nippon Airways is Japan's largest carrier in terms of revenue and number of passengers. Its fleet of 240 airplanes transports 47 million passengers each year.
The VNA is set to transport 20.1 million passengers this year, an increase of 10.6 per cent against 2015. It is also expected to post revenues of VND77.8 trillion (US$3.55 billion) and pre-tax profits of more than VND2.3 trillion (US$105 million). — VNS