ANA in talks on acquiring stake in Philippine Airlines, but ‘no definite agreement’ reached

    PAL Holdings responded (23-Jan-2019) to reports claiming All Nippon Airways (ANA) and Philippine Airlines (PAL) are finalising an agreement for ANA to acquire a minority stake in PAL, stating: “PAL has always been open to the possibility of a strategic investor. As of date, there is no definite agreement between PAL and any investor”. PAL president and COO Jaime Bautista said the company is in talks with “several investors” and added: “We have not signed any agreement with any of the possible investors” (ABS-CBN News/ATW Online/GMA News/Reuters, 23/24-Jan-2019). ANA Holdings stated: “We are in discussion with PAL Holdings but we have not made a concrete decision yet”.