Lucio Tan’s plan to sell PAL generates approval
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Lucio Tan’s plan to sell PAL generates approval

Manila : Philippines | Jan 23, 2012 at 2:24 PM PST
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Business Magnate Lucio Tan

Tycoon Lucio Tan’s offer to sell the Philippine Airlines (PAL) “at the right price” is welcomed by the country’s leaders saying the transaction will improve the nation’s economic image. Malacanang expects it to generate additional investments to the country. Presidential spokesperson Edwin Lacierda said that since the airline is considered as the country’s flag carrier, the additional investments would improve its branding as well as its services.

PAL Chairman and Chief Executive Tan confirmed that he is selling Asia’s 70-year old airline, but has not as yet decide how much.

Tan was reported to have talked to two of the country’s top businessmen San Miguel Corp. Executive Ramon Ang and Philippine Long Distance Telephone Co. (PLDT) Chairman Manuel Pangilinan about the possible buyout, but no result has come out as yet.

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Tycoon Lucio Tan's offer to sell PAL generates approval
nicanorr is based in Catbalogan, Eastern Visayas, Philippines, and is an Anchor for Allvoices.
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Posted By nicanorr nicanorr | over 1 year ago
It is reported PAL is a losing business. What could be the reasons?
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  • Govt welcomes PAL sale plan - InterAksyon.com

    www.interaksyon.com
    Manila has welcomed plans by tycoon Lucio Tan to sell loss-making flag carrier Philippine Airlines, with a presidential spokesman saying on Monday it will improve its image.
  • 24 Oras January 23, 2012 Replay | Watch TV Online - TV Shows ...

    www.shows-tv.net
    Top-level negotiations are ongoing regarding the sale of a majority stake in flag carrier Philippine Airlines, owner Lucio Tan told reporters in an interview over the weekend. In Malacañang on Monday, presidential spokesperson Edwin ...

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