Emirates Not Interested in Philippine Airlines

In a statement released last Monday, July 8, Dubai-based Emirates stated that it is not interested in an investment in Philippine Airlines. 

Copyright Photo: Angelo Agcamaran/PPSG

Previous reports had suggested that the airline was interested in acquiring Lucio Tan's 51 percent stake in Philippine Airlines but Emirates denied that it was in talks with PAL.

"There have been no talks with PAL regarding any form of strategic investment," Emirates said. San Miguel Corporation confirmed that there were no discussions on-going with Emirates but confirmed that preliminary discussions have taken place with Tokyo-based All Nippon Airways (ANA). 

Emirates stated that the extent of its relationship with Philippine Airlines is a codeshare agreement on its Manila-Dubai route. Emirates has been flying to Manila since 1990 and the increased demand over the years prompted the airline to increase its capacity up to three daily flights. In October, it will be introducing a non-stop flight between Dubai and Clark International Airport. 

Meanwhile, Lucio Tan and Philippine Airlines continue to look for an investor to assume Tan's 51 percent stake in the company. PAL President Ramon Ang says that when Lucio Tan finally exits the company, the San Miguel conglomerate would prefer a profitable and well known airline as its strategic partner.