JG still considering investment in PAL

admin
By admin August 7, 2014 20:12

JG still considering investment in PAL

JG Summit Holdings Inc. has denied reports that it has abandoned plans to invest in Philippine Airlines (PAL).

JG senior vice president Bach Johann M. Sebastian said that the company has yet to review whether investment would benefit the company.

Sebastian said: “We don’t have a business case [in] owning a full-service airline because [what we have now is a] low-cost airline. [But] we’re always looking at all opportunities.”

Sebastian also noted that there would be regulatory considerations for such a deal, as “the government might view that as too much concentration.”

PAL President Ramon S. Ang previously expressed confidence that the airline would return to profit by year-end, after three consecutive years of losses.

admin
By admin August 7, 2014 20:12