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Lucio Tan group buys back PAL

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PAL. FILE PHOTO

The group of tycoon Lucio Tan on Monday signed a $1-billion deal to buy back the 49-percent stake in Philippine Airlines (PAL) from conglomerate San Miguel Corp., ending a two-year-old alliance and regaining management control of the now-profitable flag carrier.

Posted: September 9th, 2014 in Editor's Pick,Headlines | Read More »

Biz Buzz: Irreverent

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This administration takes pride in having attracted into government service a number of foreign-educated whiz kids who were supposedly so inspired by President Aquino’s “Walang Mahirap Kung Walang Corrupt” slogan, that they went back to the land of their birth, even if it meant massive pay cuts, just to serve the Filipino people.

Posted: September 3rd, 2014 in Columnists,Inquirer Columns | Read More »

PAL’s net income jumped 604% in July

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PAL. FILE PHOTO

The earnings streak set off by Philippine Airlines president and COO Ramon S. Ang continues as the July net income of the once money-losing flag carrier reached $11 million, bringing net income from January to July 2014 to $18.6 million.

Posted: August 20th, 2014 in Headlines,Latest Business Stories | Read More »

PAL changed course in Q2, posted income of P1.46B

SCREENGRAB from www.philippineairlines.com

The listed operator of Philippine Airlines made a turnaround in the second quarter of 2014, which typically sees a boost in travel due to the summer break, with the international business helping lift the flag carrier out of successive quarters of decline.

Posted: August 16th, 2014 in Headlines,Latest Business Stories | Read More »

Biz Buzz: No partners for PAL bid?

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Taipan Lucio Tan might be keen on buying back San Miguel Corp.’s stake in Philippine Airlines (PAL), consolidating his group’s control over the flag carrier, but it appears the pool of local wealthy investors is drier than we thought.

Posted: August 6th, 2014 in Columnists,Inquirer Columns | Read More »

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