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2010, Yangon Airways had to suspend all flight operations after having its commercial transport license had been withdrawn by the Burmese Department of Civil Aviation.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:
“The disadvantage of men not knowing the past is that they do not know the present. History is a hill or high point of vantage, from which alone men see the town in which they live or the age in which they are living.”
—Gilbert Keith Chesterton (1874–1936)
“... in a history of spiritual rupture, a social compact built on fantasy and collective secrets, poetry becomes more necessary than ever: it keeps the underground aquifers flowing; it is the liquid voice that can wear through stone.”
—Adrienne Rich (b. 1929)
“A great proportion of the inhabitants of the Cape are always thus abroad about their teaming on some ocean highway or other, and the history of one of their ordinary trips would cast the Argonautic expedition into the shade.”
—Henry David Thoreau (1817–1862)