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http://www1.philippineairlines.com/news-and-events/pal-etihad-sign-landmark-deal/
Philippine Airlines Says Foreign Carrier to Take a Stake
MANILA—The president of Philippine Airlines Inc. says a foreign airline is poised to acquire a stake in the Philippine flag carrier, as majority-owner LT Group continues its exit from aviation.
Philippine Airlines President and Chief Operating Officer Ramon Ang declined to identify the foreign airline or say whether it would buy all or part of LT Group's 51% share. Mr. Ang, in an interview with The Wall Street Journal, said the deal would be completed by the end of the year.
"A foreign company is about to come in and buy a stake," Mr. Ang said.
Mr. Ang is also president of conglomerate San Miguel Corp. SMC.PH +0.06% , which owns 49% of Philippine Airlines. LT Group didn't respond to requests for comment.
Write to Cris Larano at cris.larano@wsj.com
http://online.wsj.com/articles/phil...rrier-to-take-a-stake-1404725309?mod=yahoo_hs
http://www1.philippineairlines.com/news-and-events/pal-etihad-sign-landmark-deal/
Philippine Airlines Says Foreign Carrier to Take a Stake
MANILA—The president of Philippine Airlines Inc. says a foreign airline is poised to acquire a stake in the Philippine flag carrier, as majority-owner LT Group continues its exit from aviation.
Philippine Airlines President and Chief Operating Officer Ramon Ang declined to identify the foreign airline or say whether it would buy all or part of LT Group's 51% share. Mr. Ang, in an interview with The Wall Street Journal, said the deal would be completed by the end of the year.
"A foreign company is about to come in and buy a stake," Mr. Ang said.
Mr. Ang is also president of conglomerate San Miguel Corp. SMC.PH +0.06% , which owns 49% of Philippine Airlines. LT Group didn't respond to requests for comment.
Write to Cris Larano at cris.larano@wsj.com
http://online.wsj.com/articles/phil...rrier-to-take-a-stake-1404725309?mod=yahoo_hs
