ANA takes 9.5% stake in PAL; places A320 & MAX orders
ANA Holdings has revealed some major investment moves, as it confirmed the purchase of a 9.5% strategic stake in Philippine Airlines and placed an order for 38 narrowbody aircraft from Airbus and Boeing. ANA’s 9.5% stake in PAL Holdings is valued at US$95m. The shares will be acquired from Trustmark Holdings, which is PAL’s largest shareholder. The deal is “subject to certain closing conditions,” the carriers said. A PAL spokesman said the carriers aim to close the deal in the Q1 of 2019. ANA said the PAL investment signals its belief in “the dynamism of the Asian region and the great potential” of PAL. “We believe [PAL] is in an excellent operational position to capitalise on both the strong uptick in air traffic growth as well as the vibrant, expanding Philippine economy,” ANA Holdings CE Shinya Katanozaka said <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-01-30/star/ana-takes-9-5-stake-in-pal-places-a320-max-orders
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ANA takes 9.5% stake in PAL; places A320 & MAX orders
ANA Holdings has revealed some major investment moves, as it confirmed the purchase of a 9.5% strategic stake in Philippine Airlines and placed an order for 38 narrowbody aircraft from Airbus and Boeing. ANA’s 9.5% stake in PAL Holdings is valued at US$95m. The shares will be acquired from Trustmark Holdings, which is PAL’s largest shareholder. The deal is “subject to certain closing conditions,” the carriers said. A PAL spokesman said the carriers aim to close the deal in the Q1 of 2019. ANA said the PAL investment signals its belief in “the dynamism of the Asian region and the great potential” of PAL. “We believe [PAL] is in an excellent operational position to capitalise on both the strong uptick in air traffic growth as well as the vibrant, expanding Philippine economy,” ANA Holdings CE Shinya Katanozaka said <br/>
