Philippine Airlines confirms advanced talks with potential investor
Philippine Airlines on Tuesday confirmed reports it was in advanced negotiations with an airline, which could acquire as much as 40 percent of the flag carrier.
Since tycoon Lucio Tan bought back his majority stake in PAL in 2014, the airline has been searching for a strategic investor to help fund its fleet and route expansion.
The company confirmed to the stock exchange a BusinessWorld report, which quoted PAL president Jaime Bautista as saying that a deal was likely within the first half of the year.
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Posted: 29 Mar 2017 14:21:25