Philippine Airlines to sell maximum shares to strategic investor

MANILA — PAL Holdings Inc., the holding company of Philippine Airlines, is in talks with a strategic investor that would purchase the maximum percentage of the airline allowable by law, which is 40%, the Business World Online reported on Feb. 20. The announcement was made to media Feb. 17 by Philippine Airlines President and Chief Operating Officer Jaime J. Bautista, the article said, with the deal expected to be sealed this quarter.

The investor would “help the company manage its fleet and reach five-star full-service carrier status by 2020,” the article states.

Bautista is quoted as saying, “We’re . . .

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