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SMC lost money on PAL investment

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San Miguel Corp. did not make a profit on its investment in Philippine Airlines despite having turned around the moribund flag carrier during the two years when the diversified conglomerate was running the firm, SMC president Ramon S. Ang (inset) said on Monday.  INQUIRER FILE PHOTOS / LEO M. SABANGAN II

San Miguel Corp. did not make a profit on its investment in Philippine Airlines (PAL) despite having turned around the moribund flag carrier during the two years when the diversified conglomerate was running the firm.     In fact, SMC president Ramon S. Ang said yesterday that the conglomerate—the country’s largest business group in terms […]

Posted: September 23rd, 2014 in Editor's Pick,Featured Gallery,Headlines,Photos & Videos | Read More »

Biz Buzz: Leaving on a high note

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We hear that San Miguel Corp. chief Ramon Ang isn’t exactly ecstatic about giving up Philippine Airlines, which he nursed back to health for over two years.

Posted: September 19th, 2014 in Columnists,Featured Columns,Inquirer Columns | Read More »

SMC still keen on taking to the skies

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San Miguel president Ramon S. Ang. INQUIRER FILE PHOTO / LEO M. SABANGAN II

After only two years, conglomerate San Miguel Corp. (SMC) exited the airline business with the sale of its stake in flag carrier Philippine Airlines Monday, but its ambitions to again take to the skies does not end there, its top executive said.

Posted: September 17th, 2014 in Latest Business Stories | Read More »

Biz Buzz: Change of command at PAL

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SMC president Ramon S. Ang: Confirmation

It was a busy Monday for the camps of San Miguel and Lucio Tan, as the final deal for Tan’s takeover of Philippine Airlines’ management was finally sealed.

Posted: September 17th, 2014 in Columnists,Inquirer Columns | Read More »

Lucio Tan group retakes PAL’s helm

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PAL. FILE PHOTO

Tycoon Lucio Tan on Monday officially reclaimed management control of flag carrier Philippine Airlines after executing the buyout of the 49-percent stake held by conglomerate San Miguel Corp.

Posted: September 16th, 2014 in Editor's Pick,Headlines | Read More »

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