Regional Round-Up
PAL "in talks" with foreign investors
February 1st 2014
Phillipines’ tycoon, Lucio Tan, who has majority control of fading Philippine Airlines (PAL), is hoping to identify a buyer for his 51% holding in the Manila headquartered airline. Read More » Conglomerate San Miguel owns 49% of PAL and also manages the carrier. Tan said last month he is in talks with foreign buyers interested in his 51% equity. San Miguel already has said it would not be increasing its investment in PAL, which has lost market share as local LCCs attract former and future passengers of the full-service carrier.
