MANILA - PAL Holdings Inc on Friday said a senior adviser at Japan's ANA Holdings Inc was elected as a member of the Board following its $95 million (P4.9 billion) investment in the company.
In a disclosure to the stock exchange, PAL Holdings said Ryuhei Maeda will represent ANA Holdings Inc after the holding firm of All Nippon Airways (ANA), ANA HD acquired 9.5 percent share from the Trustmark Holdings of tycoon Lucio Tan, the largest shareholder of PAL holdings.
"Mr. Ryuhei Maeda, senior advisor at ANA Holdings Inc and a member of the Board of Japanese carrier All Nippon Aiaways Co Ltd, completes the 15-member PAL board for 2019," the statement said.
Philippine Airlines earlier said it would increase flight frequencies to Japan after All Nippon Airways' investment. PAL and ANA have existing code-shared flight agreements.