The management of Philippine Airlines (PAL) today (04 April 2012) said it was officially informed of the entry of a new investor in the holding company that controls majority shares of the flag carrier.
PAL president Jaime J. Bautista welcomed the entry of San Miguel Corp. (SMC) saying its planned investment will help the flag carrier in its refleeting program and make the airline more viable and competitive. He said a stronger PAL augurs well for the company, its shareholders and employees.
He assured the riding public that 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 said.
Watch out for exciting news to be announced soon!