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Mystery airline pursuing a stake in PAL

March 31, 2017 Headline News 1 Comment Email Email

Hot on the heels of news that American Airlines is contemplating buying into China Southern, comes word that Philippine Airlines (PAL) is in advanced negotiations with a would-be suitor.

PAL confirmed the reports but did not name the other airline, which under Philippines law could acquire as much as 40% of the Philippines flag carrier.

PAL has been seeking a strategic investor since tycoon Lucio Tan bought back his majority stake in PAL in 2014. The airline needs an investor to help fund fleet and route network expansion.

PAL president Jaime Bautista said that a deal was likely within the first half of this year, ABS-CBN News reported from Manila. Bautista said the other airline was interested in “less than 40%” of PAL and added that he hoped the investor would help PAL lift its status from a three-star carrier to five stars by 2020.

Written by Peter Needham

Currently there is "1 comment" on this Article:

  1. Mark says:

    Qatar Airways?

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