Myanmar Now

Airbus withdraws investments from Chinese company that sells fighter aircraft to Myanmar military

European aviation giant Airbus has withdrawn its shareholdings in a Chinese military-owned company that supplies fighter aircraft and weapons to the Myanmar junta, according to reports. Airbus held a 5.03 percent share—worth US$140 million as of June 30, 2024—as the sole international investor in AviChina Industry & Technology (AviChina), a subsidiary of the Hong Kong-registered Aviation Industry Corporation of China (AVIC).  Advocacy group Justice For Myanmar (JFM) announced on June 19 that Airbus began withdrawing from AviChina on April 1 after coming under pressure from domestic and international organisations over the Chinese company’s role in enabling the Myanmar junta’s daily airstrikes and killings since seizing power. Asked about the sale of its holdings in AviChina, as stated in its March 31 quarterly financial report, a spokesperson for Airbus said via email that the company no longer has any investments in AviChina. “The investment withdrawal sends a clear message that there will be financial and reputational costs for AVIC and the Chinese government, who continue to sell and supply military aircraft and related weapons to the Myanmar military,” JFM spokesperson Yadanar Maung said in a statement. However, she added that China remains the primary supplier of military weapons, military-civilian dual-use technology,…