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Business trends

Myanmar's aviation industry stalls as third airline suspends operations

Foreign carriers such as ANA see opportunities in the restructuring

Myanmar airline FMI Air hopes to resume its suspended operations after restructuring and perhaps partner with a foreign carrier.

YANGON/TOKYO -- Myanmar's airline industry, touted as the last frontier in Asia, already appears caught in a downdraft as a third domestic carrier says it will ground operations.

"Operating in Myanmar's aviation sector has become increasingly challenging," FMI Air said in a statement Monday. The company decided to suspend activities, citing the fiercely competitive market.

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