History
Yangon Airways was established in 1996 as a joint venture between Myanma Airways and Krong-Sombat Co. from Thailand. In 1997, Myanmar May Flower Group (a company owned by ethnic Chinese Kyaw Win) acquired the Krong-Sombat shares. In 2000, May Flower Group sold Yangon Airways and the entire portfolio of the May Flower Group to the United Wa State Army.
Yangon Airways developed a dubious reputation when reports surfaced that it was owned by the United Wa State Army (a separatist militia involved in the Internal conflict in Burma) and as such actively involved in drug trafficking, which prompted the US Government to have sanctions placed on the airline under the Kingpin Act on 13 November 2008. On 3 December 2010, Yangon Airways had to suspend all flight operations after having its commercial transport license had been withdrawn by the Burmese Department of Civil Aviation. The Irrawaddy claimed this happened due to the affiliation of the airline with the separatists, rather than due to the financial problems the airline had long since suffered from. Yangon Airways' flights will be operated from 16 October 2011
Read more about this topic: Yangon Airways
Famous quotes containing the word history:
“It’s a very delicate surgical operation—to cut out the heart without killing the patient. The history of our country, however, is a very tough old patient, and we’ll do the best we can.”
—Dudley Nichols, U.S. screenwriter. Jean Renoir. Sorel (Philip Merivale)
“This is the greatest week in the history of the world since the Creation, because as a result of what happened in this week, the world is bigger, infinitely.”
—Richard M. Nixon (1913–1995)
“Culture, the acquainting ourselves with the best that has been known and said in the world, and thus with the history of the human spirit.”
—Matthew Arnold (1822–1888)