Photo by Jener Gaerlan - Philippine PlaneSpotters Group (PPSG)
The San Miguel Corporation, parent company of flag carrier Philippine Airlines is in talks with Japan-based All Nippon Airways (ANA) and Dubai-based Emirates for a possible deal.
Sources say that the diversified conglomerate has already been in talks with Japan's All Nippon Airways but has not yet been approached by Dubai's Emirates which is one of PAL's current partners.
Sources say that the diversified conglomerate has already been in talks with Japan's All Nippon Airways but has not yet been approached by Dubai's Emirates which is one of PAL's current partners.
Philippine Airlines chairman Lucio Tan is selling his 51% stake in the airline. SMC has the option to buy the 51% and consolidate its operation of PAL but is also interested in a partnership with other airlines.
PAL President and CEO Ramon S. Ang said that both All Nippon Airways and Emirates have expressed their interest in investing in a partnership with Philippine Airlines which could happen this year.
All Nippon Airways is Japan's largest airline in terms of passenger volume and owns a stake in other airlines such as ANA Wings, Air Japan and AirAsia Japan.
Emirates is the largest airline in the Middle East and a leading airline globally. Both ANA and Emirates have flights to Manila.
Under the Philippine Constitution of Foreign Ownership in Key Industries, a foreign company can only own up to 40% of a local company.
As of now, PAL is undergoing a massive fleet modernization with an expected 100 planes and more than 60 already ordered.
RSA is confident that PAL will be 100 percent profitable by 2014 and expects brighter skies for the future of the flag carrier of the Philippines.
UPDATE: (as of July 10, 2013)
Emirates announced that they are not in any talks with San Miguel Corporation for a partnership with Philippine Airlines.
PAL President and CEO Ramon S. Ang said that both All Nippon Airways and Emirates have expressed their interest in investing in a partnership with Philippine Airlines which could happen this year.
All Nippon Airways is Japan's largest airline in terms of passenger volume and owns a stake in other airlines such as ANA Wings, Air Japan and AirAsia Japan.
Emirates is the largest airline in the Middle East and a leading airline globally. Both ANA and Emirates have flights to Manila.
Under the Philippine Constitution of Foreign Ownership in Key Industries, a foreign company can only own up to 40% of a local company.
As of now, PAL is undergoing a massive fleet modernization with an expected 100 planes and more than 60 already ordered.
RSA is confident that PAL will be 100 percent profitable by 2014 and expects brighter skies for the future of the flag carrier of the Philippines.
UPDATE: (as of July 10, 2013)
Emirates announced that they are not in any talks with San Miguel Corporation for a partnership with Philippine Airlines.
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