Nyi Nyi ®
The Kanbawza Bank Company Group will buy up to 80 percent stake of the airline with the remainder continued to be held by the state-run domestic Myanmar Airways, the group was quoted as saying by the report.
MAI was a joint venture set up by the state-run Myanmar Airways and a Singapore-based company in 1993 for sole international service flights covering three scheduled flight destinations of Bangkok, Singapore and Kuala Lumpur.
In 2007, the Region Air (Hong Kong) Ltd. took over the stake from the Singapore's with 49 percent held by it, while the remainder 51 percent possessed by the state-run Myanmar Airways, according to MAI website.
Starting December last year, the airline has managed to fly Bangkok and Kuala Lumpur alternately with Air Bus-320 in addition to the existing daily and four-day-a-week flights respectively, the MAI said, adding that these services will be offered until March during the current peak season of tourist arrivals.
In November last year, the MAI launched chartered flights for the first time between Yangon and Jaddah of Saudi Arabia.
There are 13 airlines including the MAI and 12 foreign airlines operating between Yangon and nine destinations, namely Bangkok, Singapore, Kuala Lumpur, Beijing via Kunming, Guangzhou, Calcutta, Chiang Mai, Taipei and Doha.
The 12 foreign airlines flying Yangon comprise Air China, China Southern Airline, Thai Airways International, Indian Airlines, Qatar Airways, Silk Air, Malaysian Airlines, Bangkok Airways, Mandarin, Jetstar Asia, Phuket Airline and Thai Air Asia.
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Nyi Nyi
Thomas Latt
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Nyi Nyi ®
Myanmar's MAI set for ownership change as Singaporeans exit
Myanmar Airways International (MAI), the country's main international carrier, is in the throes of another ownership change.
This carrier was a joint-venture between Singapore's RegionAir and the Myanmar government's Myanma Airways but the Singaporeans exited the business a few months ago and Myanma Airways is now working to sell an 80% stake, says a senior source at MAI.
Some news reports in the country say Myanmar's privately-owned Kanbawza Bank has succeeded in buying the 80% stake. The bank is controlled by Myanmar businessman U Aung Ko Win, who has strong links to Myanmar's military junta.
But the senior MAI source says the bank's proposal to buy 80% is still before the transport ministry.
There is also at least one other private company vying for the stake, says the source, who declines to name the competing bidder.
MAI operates two Airbus A320s on lease from a Hong Kong leasing company and it plans to lease a third A320, says the source.
One of the reasons the Singaporeans let Myanma Airways take over 100% of MAI is because they didn't want to inject more money, adds the source.
The government's move to sell 80% of MAI is in line with current government policy. Reports in Myanmar say the government is busily selling state-owned assets before the country's national elections due to take place later this year. So far no firm date has been fixed yet for the elections.
Nyi Nyi
akmalim Malim
Thomas Latt
PIA Airlines announced Wednesday it would open a direct route between KARACHI and GOLD Yangon on March operating four flights a week with Fokker 70 aircraft. VIP 50 ticket US$288 issued from to March 31, traveling in March.
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