MANILA, Philippines–The management of Philippine Airlines (PAL) on Wednesday said it was officially informed of the entry of a new investor in the holding company that controls majority shares of the flag carrier.
In a statement emailed to the media, PAL president Jaime J. Bautista welcomed the entry of San Miguel Corp. (SMC) sayings 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.
Bautista 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.