PAL unveils a $1bn aircraft acquisition plan as Chinese airlines sink, leading to Air China share suspension

Philippine Airlines has announced plans to order at least 100 new aircraft and resume flights to Europe and increase services to the USA. The carrier’s two main owners will provide $1bn to help fund fleet expansion, Ramon Ang, president of the airline and of San Miguel, stated yesterday that San Miguel will inject $750 million in PAL and affiliate Air Philippines Corp., including a $500 million stake purchase, while billionaire Lucio Tan will deliver the rest, he said. “PAL will institute more improvement, offer a better service and fly newer planes,” said Ang. It was also made clear in the