The Myanmar government wants its local airlines to merge in an effort to mitigate competition for a shrinking market after five airlines—Asian Wings Airways, FMI Air, Apex Airlines, Air Mandalay, and Air Bagan—suspended operations over the past 15 months, AINonline reported.
The carriers operated mainly domestic fights. High fares and a poor economy coupled with poor passenger loads all contributed to the suspensions.
Six carriers remain in the market: Air KBZ, Golden Myanmar Airlines, Mann Yadanarpon Airlines, Myanmar National Airlines, Myanmar International Airways, and Yangon Airways. The government owns Yangon-based Myanmar National, while private entities own the rest. Myanmar law permits a foreign carrier to acquire as much as 49 percent of a local airline.