PAL set on Cambodia Airlines investment

Philippine Airlines (PAL) has disclosed that it intends to pursue its plan to invest in Cambodia Airlines in a statement to the country’s stock exchange. PAL has stated that preparations are in progress for the completion of the contemplated joint venture agreement between the two carriers. The news comes after PAL President Ramon Ang stated that doubts have been raised of the viability of the project due to political instability in Cambodia. The proposed deal would see PAL invest $10million in return for a 49% stake in a new company with the Royal Group of Cambodia that would establish its