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Old February 19th, 2010, 07:15 AM   #1
hkskyline
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Myanmar Airways International Privatization

Myanmar to privatise international carrier - report

YANGON, Feb 3 (Reuters) - Myanmar Airways International (MIA), the country's only international carrier, will soon be privatised, with a local bank buying an 80 percent stake in the airline, weekly 7-Day News Journal reported on Wednesday.

Majority ownership of MIA will be transferred to Kanbawza Bank, a Burmese private banking group, with state-run domestic carrier Myanma Airways retaining a 20 percent stake, according to the publication.

The Kanbawza Bank Company Group is among the many companies in Myanmar that are targeted by Western sanctions because of the country's poor human rights record.

The military, which has ruled under various guises since a 1962 coup, has been on a drive to privatise a number of state-run companies ahead of elections due some time this year.

MIA, which operates with Airbus A320, Airbus A319 and Boeing 737-400 aircraft, has international flights to Singapore, Kuala Lumpur, Bangkok and Gaya.
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Old October 21st, 2012, 02:30 PM   #2
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Any update?
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