PAL IN TALKS WITH NEW INVESTORS

Dino D'Amore
By Dino D'Amore January 14, 2011 10:12

PAL IN TALKS WITH NEW INVESTORS

The management of Philippine Airlines (PAL) has confirmed it is in talks with potential investors but stressed they were only exploratory at the moment.

Local media suggested that the airline was in talks with Ramon Ang, president of conglomerate San Miguel, on the purchase of 40% of Philippine Airlines, which prompted a PAL spokesperson to state the talks were only exploratory in nature and to quell rumours the airline is for sale due to losses sustained between 2008 and 2010.

Dino D'Amore
By Dino D'Amore January 14, 2011 10:12
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