MANILA, Philippines – Philippine Airlines (PAL) president Ramon Ang said his company is still in talks with Japan's All Nippon Airways (ANA), but he declined to clarify if ANA is still interested in investing in the Philippine flag carrier.
Ang said he can't give details about the talks because of a confidentiality agreement.
He was quoted by a Business Mirror report Thursday morning, saying PAL dropped plans to take in ANA as an investor due to outside “meddling.”
The report also said PAL is now pursuing a partnership through a code-share deal, where the two airlines could share the rights to a flight or destination.
The report added a deal might be closed within 30 days.
San Miguel Corporation, where Ang is also president, holds a 49 percent stake in PAL while businessman Lucio Tan controls 51 percent.
There has been speculation Tan has been trying to sell his stake.
San Miguel has the option of buying it first before any interested parties. -- ANC