ANA and Vietnam Airlines move towards joint venture

All Nippon Airways (ANA) and Vietnam Airlines have marked the 10th anniversary of their partnership by agreeing to pursue a joint venture, taking their relationship to a new level of strategic cooperation.

The joint venture framework agreement was exchanged in Tokyo in the presence of To Lam, General Secretary of the Communist Party of Vietnam Central Committee and State President. The agreement highlights the partnership’s role in strengthening economic ties, tourism and people-to-people exchanges between Japan and Vietnam.

The partnership began in 2016, when ANA HOLDINGS INC. (ANA HD), ANA’s parent company, entered into a business and capital agreement with Vietnam Airlines and became its strategic shareholder. Over the past decade, the two airlines have expanded their cooperation across codeshare services, reciprocal frequent flyer benefits and airport services. The proposed joint venture marks the next milestone in their relationship, allowing the carriers to strengthen commercial cooperation, subject to regulatory approval.

“Marking ten years of partnership, we are delighted to elevate our strategic cooperation through this joint venture framework agreement,” said Juichi Hirasawa, President & CEO of ANA. “More than our business achievements, what has truly sustained our journey is the unwavering mutual trust we have built through changing times and challenging periods, as well as our united commitment to delivering the finest travel experiences to our customers. Looking ahead to the next chapter, we will strive through this joint venture to create even higher-quality, higher-value travel experiences connecting Japan and Vietnam.”

Le Hong Ha, President & CEO of Vietnam Airlines, said: “Vietnam Airlines is committed to working closely with ANA Holdings to advance our joint venture plans, strengthen our competitiveness and further enhance the passenger experience. This partnership is an important step in our long term development strategy. As Vietnam's national flag carrier, we also see it as an opportunity to contribute to stronger economic and tourism ties between our two countries and bring our people closer together.”

The joint venture remains subject to approval from the relevant authorities in Japan and Vietnam, including antitrust immunity. Both airlines will work closely with the authorities in the two countries to secure the necessary approvals.