Japan’s largest carrier ANA feels third time lucky as it attempts Myanmar entry

All Nippon Airways Co. (ANA) aircraft stand parked at Haneda Airport in Tokyo, Japan, on Wednesday, April 26, 2017. Photographer: Tomohiro Ohsumi/Bloomberg

ANA Holdings Inc. is attempting to set up a venture in Myanmar for the third time after previous efforts collapsed, as Japan’s largest carrier seeks to capture demand in one of Asia’s fastest-growing economies.

“We’re going to find a new partner again,”  Shinya Katanozaka, chief executive officer of ANA Holdings, said in an interview in Tokyo Thursday. “Even though this is going to be our third attempt, we didn’t even think about giving up on the plan.”

ANA is betting on a surge in international travel from the Southeast Asian country as economic growth picks up pace. Myanmar is emerging from decades of isolation imposed by its military dictatorship, with companies from the U.S. to Europe and China lining up to invest.

“Like Japan in the past, Myanmar’s middle class will grow rich and start to enjoy overseas travels,” Katanozaka said.

In 2014, ANA Holdings cited intense competition for deciding to  cancel a plan to buy 49 percent of Asian Wings Airways Ltd., a local airline. Last year, it invested in a new venture with local investor Golden Sky World, but had to scrap the project last month after its license application stalled.

The airline operator plans to kick off the new venture in Myanmar during its new five-year plan, which will be announced in February, according to Katanozaka.

ANA last month became the only official airline sponsor of the Myanmar national football team.

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Bloomberg

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.