PAL open to taking in foreign partner
The group of taipan Lucio Tan may sell a minority stake in Philippine Airlines to a foreign strategic partner as early as this year, a company official confirmed last week. The move would mark a major change in the ownership structure of the airline, just 3 years after Tan again assumed full control of PAL after buying out San Miguel Corp. president Ramon S. Ang. Jaime Bautista, president of PAL operator PAL Holdings, said Friday that negotiations with a strategic partner were still ongoing and details at this stage could not be discussed. However a source with knowledge on the matter said that a deal could be closed within the year, and it was likely to be a foreign airline. This would provide financial resources and, more importantly, a global network that would help PAL reach its goal of becoming a “5-star” carrier by 2020. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-02-20/unaligned/pal-open-to-taking-in-foreign-partner
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PAL open to taking in foreign partner
The group of taipan Lucio Tan may sell a minority stake in Philippine Airlines to a foreign strategic partner as early as this year, a company official confirmed last week. The move would mark a major change in the ownership structure of the airline, just 3 years after Tan again assumed full control of PAL after buying out San Miguel Corp. president Ramon S. Ang. Jaime Bautista, president of PAL operator PAL Holdings, said Friday that negotiations with a strategic partner were still ongoing and details at this stage could not be discussed. However a source with knowledge on the matter said that a deal could be closed within the year, and it was likely to be a foreign airline. This would provide financial resources and, more importantly, a global network that would help PAL reach its goal of becoming a “5-star” carrier by 2020. <br/>
