Japan’s All Nippon Air to invest $95M in PAL

Consul General Robespierre Bolivar, 2nd from left, joins senior executives of PAL and ANA following the signing of the Business and Capital Agreement between the two airlines. Signing the agreement on behalf of PAL were Michael Tan, Director of PAL Holdings and President of the Lucio Tan Group and PAL President and Chief Operating Officer Jaime Bautista,. PHOTO BY Philippine Embassy in Japan

The Philippine Airlines (PAL) is expected to strengthen its bid to expand their network, grow its fleet and further improve its services to the traveling Filipino public as PAL signed a a Business and Capital Partnership Agreement with All Nippon Air (ANA).

PAL and ANA recently signed an agreement paving the way for two of Asia’s biggest airlines to better serve Filipino and Japanese travelers.

According to a press release from the Philippine Embassy in Japan, ANA Holdings, Inc. will invest US$95 million and will acquire 9.5 percent of PAL Holding’s outstanding shares.

Philippine Embassy Consul General Robespierre Bolivar said during the signing ceremony that this is “the Golden Age of Philippines-Japan relations, and the partnership between PAL and ANA plays a crucial part in our vibrant people-to-people exchanges.”

According to the Philippine Embassy in Japan, PAL currently operates 84 flights weekly to six cities in Japan.  The airline company recently began operating flights to Chitose Airport in Hokkaido. 

ANA, on the other hand, flies 14 times weekly to two destinations in the Philippines.

Tourist traffic between the two countries is also noteworthy.

In 2018, more than half a million Filipinos visited Japan.  This represented an almost 19 percent growth in tourist arrivals from the Philippines compared to 2017 figures. 

The number of Japanese visitors to the Philippines, on the other hand, was pegged at more than 631,000 for 2018, registering an almost 9 percent increase compared to the year before.

Meanwhile, it can be recalled that 2019 is the 70th anniversary of Philippine Airlines’ maiden voyage to Japan. — BAP, GMA News