PAL on reported ANA entry: 'Open' to strategic investor

ABS-CBN News

Posted at Jan 23 2019 11:49 AM

An All Nippon Airways jet is shown in this photo from the Japanese carrier's Facebook page. Philippine Airlines said on Jan. 23, 2019 that it was 'open' to strategic partnerships after it was reported that ANA was looking at investing in the Filipino flag carrier.

MANILA -- Philippine Airlines said Wednesday it was "open" to taking in a strategic investor but no deal has been finalized yet.

The flag carrier issued the clarification to the stock exchange after the Philippine Daily Inquirer reported that Japan's All Nippon Airways was in talks for a stake in PAL.

"PAL has always been open to the possibility of a strategic investor. As of date, there is no definite agreement between PAL and any investor," the airline said in a disclosure.

PAL and ANA have code-shared flights between the Philippines and Japan.

Earlier this month, PAL said it would start flights to Phnom Penh, Hanoi and New Delhi.

The flag carrier recently took deliver of Airbus A350 and 321neo jets as it narrowed its losses in the third quarter of 2018. It also secured a a 4 star rating from industry group Skytrax the first for a Filipino carrier.