Philippines (Philippine Airlines) (Manila) according to this report by Bloomberg, plans to order at least 100 new aircraft while doing more business with Boeing, resuming flights to Europe and increase its routes and destinations in the United States. The flag carrier is expanding after it sold a share in the airline to the San Miguel Corporation (SMC).
According to Bloomberg, Lucio Tan and SMC “will provide $1 billion to help fund the fleet plan, Ramon Ang, president of the airline and of San Miguel, said in an interview in Manila. San Miguel will inject $750 million in PAL and affiliate Air Philippines Corporation, including a $500 million stake purchase, while billionaire Lucio Tan will deliver the rest”.
PAL is looking at adding New York, Chicago and Florida.
Some of the new aircraft will go to Air Philippines.
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Copyright Photo: Micheil Keegan.
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