Japan airline group ANA Holdings Inc has completed a purchase of 8.8% in Vietnam Airlines.
ANA and Vietnam Air become strategic partners and the next annual shareholders meeting will likely be brought forward in order to elect a representative of ANA to the Vietnam Airlines board.
ANA paid about US$109 million for the stake.
VNA said it is still on hunt for other backers to invest in the company and may issue additional shares to existing shareholders.
The airline previously said it planned to make available about 20% to sell to strategic partners.
