PAL hints at delay in securing foreign investor

Philippine Airlines has hinted that its search for a strategic investor is likely to continue into 2018, a push-back from its previous target of closing a deal by the end of the year. The carrier confirmed a local news report quoting president Jaime Bautista saying that should the operating environment "remain challenging", the airline will wait for the situation "to improve" before it seals a deal with a foreign airline investor. Bautista had previously said that PAL is offering up to a 40% stake for sale, and that it is in advanced talks with an airline investor. It wants a strategic investor to help with its next stage of growth. The article, however, said that the investor may take a stake of between 10% and 40%. Issues being discussed include PAL's valuation, and whether the investor should take a stake in PAL or its listed parent PAL Holdings. <br/>