TOKYO - Japan's All Nippon Airways Co. and state-owned Vietnam Airlines agreed Monday to pursue a joint venture to coordinate fares and flight schedules on routes including those between the two countries.
The deal would deepen a partnership dating back to 2016, when ANA's parent, ANA Holdings Inc., bought a stake in Vietnam Airlines. ANA Holdings currently owns 5.62 percent of the carrier.
The airlines already cooperate on code-sharing flights, frequent flyer programs and airport services but set fares and schedules separately.
After securing approval from authorities in Japan and Vietnam, including an exemption from antitrust rules, the venture will aim to attract more passengers by offering a wider range of fares and operate flights more efficiently. A launch date has yet to be set.
"Passenger traffic between Japan and Vietnam is expected to grow, so we want to make travel as convenient as possible," ANA President Juichi Hirasawa told a press conference in Tokyo.
Vietnam Airlines President Le Hong Ha said in a joint release that the partnership could contribute to "stronger economic and tourism ties between our two countries."
