ANA in strategic investment talks with Philippine Airlines

ANA is engaged in talks with Philippine Airlines for a strategic investment in PAL, although a deal is yet to be finalised. ANA said it is “in discussion with PAL Holdings but we have not made a concrete decision yet. The carrier “continually reviews its market strategy and considers investment opportunities that would fit our mid-term corporate strategy for FY2018-2022.” PAL, meanwhile, confirmed that “talks are ongoing with possible strategic investors, but we have nothing final to report at this point.” The airline said it will make an announcement “once a deal is sealed.” PAL CE Jaime Bautista has recently said the airline is targeting the first half of 2019 to close a deal with a strategic investor. Japan’s Nikkei Asian Review reported that ANA is considering purchasing a 10% stake in PAL. <br/>