ANA Holdings has wound up its 49% investment in Myanmarese startup Asian Blue Aviation after the latter failed to secure an air operator’s certificate.
The carrier had been planning to start services in 2018 on short-haul international routes, but media reports say that its application for an air operator’s certificate was recently rejected by authorities in Myanmar.
The Japanese carrier says in a statement that it regrets the decision to wind up Asian Blue, “but we would like to keep on exploring the possibility to contribute to the development of the airline industry in Myanmar".
This is the second failed attempt by ANA to tap the Myanmar market, having abandoned plans to take a 49% stake in Asian Wings Airways in 2014.
It is unclear if Asian Blue’s other shareholder – Golden Sky World – plans to lodge a new application for a licence.
Last year, ANA took an 8.8% stake in Vietnam Airlines, which to date has been its only successful overseas airline investment.