San Miguel investment in PAL to help flag carrier's refleeting program

San Miguel Corp.’s acquisition of a 49-percent stake in flag carrier Philippine Airlines (PAL) and budget airline Airphil Express for $500 million will assist the flag carrier’s refleeting program, officials from both companies said Wednesday.

 

“The new investment will allow the airlines to strengthen operations and stay competitive with the implementation of PAL and Air Phil’s fleet modernization program,” said San Miguel president and chief operating officer Ramon Ang.

 

“[San Miguel’s] investment will… make the airline more viable and competitive,” said PAL president Jaime Bautista.

 

He assures that SMC’s acquisition of ‘minority stakes’ in PAL– Asia’s oldest airline–and budget airline Airphil Express will not affect PAL’s current operation but will improve its services even more.

 

“It’s business as usual for PAL. The airline continues to perform its role as the country’s flag carrier, catering to the needs of its passengers especially during the peak travel season,” he claimed. —Rouchelle Dinglasan/VS, GMA News