Japan’s largest airline All Nippon Airways (ANA) on Tuesday signed a cooperation memorandum of understanding with Vietnam Airlines to buy 8.8 percent stakes worth VND2,431 billion (US$108.39 million).
The national flag carrier of Vietnam will report the deal to the Ministry of Transport and the Prime Minister for approval.
Afterwards, the two corporations will sign a share trading contract expected this month.
The cooperation will help both sides take advantage of their strengths to expand their flight networks in the global market. They have also committed to use each other’s services in Vietnam and Japan.
ANA will assign representatives to attend the board of directors of Vietnam Airlines and share management experiences to improve services and optimize exploitation.
Vietnam Airlines now has 66 flights a week in ten routes between Japan and Vietnam while ANA exploits 14 flights.