Japan airline group ANA Holdings Inc has ditched plans to form a new joint venture in Myanmar after an application for an air operator’s certificate was declined.
ANA decried the rejection of the AOC, saying ‘we can’t find a reason’ for declining it, according to ANA’s Myanmar representative, H. Sammy Aramaki.
Myanmar’s Department of Civil Aviation has so far given no reason for the decision.
ANA had planned to take a 49% stake in the Asian Blue joint venture in collaboration with local investor Golden Sky World.
Three years ago ANA was close to investing in Myanmar’s Asian Wings Airways but pulled out at the last minute due to risky market conditions.
ANA operates daily flights to Yangon from Tokyo, and still sees opportunity in the country.
"We regret the fact that we decided to wind up the company, but we would like to keep on exploring the possibility to contribute to the development of the airline industry in Myanmar," an ANA spokesman told Reuters.
