Philippine Air Plans Regional Carrier Investment

 

Philippine Air Plans Regional Carrier Investment

Philippine Air Plans Regional Carrier Investment

Philippine Airlines, the country’s flag carrier, is planning to invest in a regional airline even as it seeks to restructure its operations to a low-cost carrier, the company president said on Thursday.

The airline was also in talks with aircraft manufacturers as it aims to beef up its current fleet by adding at least 100 new planes in the next five to seven years, Ramon Ang told shareholders of conglomerate San Miguel, which has a minority stake in the airline, and where he also sits as president.

San Miguel acquired minority stakes in the carrier and its affiliate in April in a deal worth about USD$500 million in what was the conglomerate’s first foray into the airline business.

(Reuters)



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