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    Lucio Tan to sell majority stake in PAL at the right price

    Top-level negotiations are ongoing regarding the sale of a majority stake in flag carrier Philippine Airlines, owner Lucio Tan told reporters in an interview over the weekend.   “If the price is good,” then he is selling, the business tycoon said at the sidelines of Bangko Sentral ng Pilipinas’ annual reception for bankers.   “Some of my friends” are interested to invest in PAL, including corporate tycoons Ramon Ang of San Miguel Corp. and Manuel Pangilinan of Philippine Long Distance Telephone Co.,” noted Tan, but declined to comment on specific talks with any of the parties involved.   In Malacañang on Monday, presidential spokesperson Edwin Lacierda told reporters that government welcomes such developments regarding PAL.   “We welcome the additional investment of whoever would like to buy PAL, because it would mean additional investments to the country, Lacierda said.   “Considering the PAL is our national brand, the additional investments would improve the branding of our national carrier,” the Palace official added.   Publicly listed PAL Holdings Inc., led by Tan, owns 94 percent of the flag carrier.   Early this month, PAL employees told reporters they have no other information regarding the top-level talks with potential investors.   According to a Reuters report last Dec. 28, San Miguel Corp. was invited Tan to help the flag carrier pursue it refleeting and modernization plans.   “San Miguel, in a disclosure to the stock exchange, confirmed local media reports it was in talks with Tan's PAL Holdings Inc., owner of Asia's oldest airline, but no agreement has been forged yet,” Reuters added.     PAL posted a $39.4-million loss in its fiscal second quarter from July to September 2011 on higher operating expenses, particularly the cost of jet fuel.   The airline projected its average fuel cost at $120 per barrel, but the actual cost was $135 per barrel.   Higher fuel costs and revenue losses as a result of a labor dispute will give the airline another bottom line in the red in its current fiscal year, according to PAL. — VS, GMA News

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    70 comments

    • Arthur  •  Singapore, Singapore  •  4 months ago
      We once ruled the skies of Asia as early as the 50s... about time the Philippine government should REALLY do something to bring PAL back to it's former glory. :)
      • kibor 4 months ago
        Maraming gov't official matutuwa niyan
      • Newman 4 months ago
        Right, Philippine Airlines is the first airline in Asian!
      • Reynaldo 4 months ago
        kung marcos nanaman ulit maging presidente, for sure, maibabalik ang glory na nasa Philippines na noon.
    • Tamsap  •  Manila, National Capital Region  •  4 months ago
      Ang daming hindi makagets sa strategy ni Mr Tan.
      Sa kasalukuyan may Labor dispute pending sa SC, yung desisyon na narecall kung maalala nyo. Kung maiimpeach si CJ Corona, malaki ang mawawala sa PAL kasi malamang papabor ang kaso sa mga employees. Kaya gustong ibenta ni Mr Tan yang PAL, kasi gusto nyang takasan yung responsibilidad na ipapataw ng korte sa kanya. At kung maibebenta ni Mr Tan ang PAL, panibagong management , tatagal ulit yung labor dispute dahil hahamunin ng bagong management kung sino ang dapat may kargo sa responsibilidad sa mga empleyadong nawalan noon ng trabaho noon, magpapasahan lang yan, hanggang sa hukay walang makukuha ang mga empleyado.
    • Hisoka  •  4 months ago
      bilhin ko na yang PAL mamya. kahapon kase dapat kaya lang holiday.
      • Ramon 4 months ago
        porket hunter ka..
      • Mikel 4 months ago
        sayang ang space walang kwentang comment...
      • Yhuri ♂ 4 months ago
        hisoka ako to si kurapika i-bind ko yang puso mo tutusukin ko yan ng chain ko haha
    • yuriandropov  •  Manila, National Capital Region  •  4 months ago
      PAL NEEDS NEW OF SET BRAINS, TO KEEP THE JOBS OF ITS EMPLOYEES AND INCREASE ITS EARNING THROUGH REASONABLE PRICE PACKAGE...SANA MAGKAROON NG BAGONG PANGALAN NA HINDI INTSIK ANG APELYEDO THAT MOST OF US COULD RELATE TO...
      • Denesse 4 months ago
        he he he well, gawin mong LA INDIO AIRLINE or JUAN for all ng eat baluga este bulaga ano sa palagay mo? eh sakin lang PALpak parin ang dating
      • Ubaldo 4 months ago
        dapat isama ni Tan sa bilihan ang mga managers ngayon para tataglayin at mamanain pa rin ang pamamaraan nila.
    • Riche  •  Manila, National Capital Region  •  4 months ago
      HINDI TOTOO YAN NA LUGI DAW ANG PAL..BA'T KA NAMAN MAG NEGOSYU NG PALUGI?
      • Mr Imperfect 4 months ago
        1. Bili ka lugi negosyo
        2. Ikaw presidente, CEO, Chairman of the Board
        3. Utang companya
        4. 10x mo sahod mo, 2x mo benefits mo, 3x mo allowance mo, 100x mo bonus mo. Kunin mo pera sa utang.
        5. Benta mo mas lugi na negosyo. Laki kita mo
    • zal  •  Manila, National Capital Region  •  4 months ago
      ALL CONGLOMERATES COMPANIES IN THE PHILIPPINES
      ACTUALLY HAVE NO HUGE CAPITALS

      THEY LOANS IT FROM OUR SSS, PAB IBIG AND OTHER GOVT FINANCIAL INSTITUTIONS

      KUHA NYO MGA KABAYAN
      GINIGISA TAYO SA SARILI NATING MANTIKA NG MGA KUMPANYANG ITO

      HALOS LAHAT NG MALALAKING COMPANY
      SA PILIPINAS , PERA NG GOBYERNO ANG GINA GAMIT SA PAG NENEGOSYO
      SANA MAGAWAN ITO NG PARAAN NA MA LESSEN

      AT MISMONG GOBYERNO ANG GUMAMIT SA PAKINABANG NG MAJORITY
      NG MGA PILIPINO

      ANG INDONESIA SOBRANG TAAS NG RATES NG PAG ANGAT NG ECONOMY NILA
      SANA YON ANG PAG ARALAN NG MGA CABINET MEMBERS AND GOVT AGENCIES
      • Dave Ignacio 4 months ago
        okei lang naman kung sa loan galing lahat ng ginamit nila as long as binayaran nila ung niloan nila..
    • zal  •  Manila, National Capital Region  •  4 months ago
      TALAGANG HINDI NATUTULOG ANG DIYOS

      ANG LAHAT AY MAY KATAPUSAN
      WORD OF GOD LANG ANG NAG LALAST FOREVER AT MANGYAYARI
      IN HIS TIME

      DI BA MAY PANAHON NG PAGTATANIM
      MAY PANAHON NG PAG AANI

      EVERYTHING IN THIS WORLD IS WEATHER WEATHER LANG
      TUMPAK KA EX PRES ESTRADA
    • Ubaldo  •  Manila, National Capital Region  •  4 months ago
      An option to avoid the payments of those who were dismissed from his employment. You will find at the end that he is still partner of the flag carrier. He will amass profit and still evade impending legal problems consequent to the labor dispute he figured.
    • thedevilhimself  •  Manila, National Capital Region  •  4 months ago
      i just wish all of the marcos cronies to die right now
    • stampoutcorruption  •  Manila, National Capital Region  •  4 months ago
      i always thought Cebu Pacific was the best airline in the Philippines because their planes are so much cleaner inside and at least the seats are fastened to the floor not as in PAL were the seats are loose and when you lean back the seat go back by it self at least that is my experience of that airline 4 times but since i started to fly Cebu Pacific for the last 3 years i feel a lot safer
    • tephs  •  4 months ago
      this time, i hope and pray the owner of PAL will have in his or her heart consider HUMANITY aside from PROFIT only
    • Denesse  •  Manila, National Capital Region  •  4 months ago
      PAL Smile daw O me halong kaplastikan PAL service daw O puro delay naman parang northwest kamote san na tayo? sabagay ultimo tasa, kutsara tinidor at mangkok puro plastic na gamit so no wonder everybody who worked in PAL worth to call them plastik airline company he he he joke lang po
    • Deon  •  Jeddah, Saudi Arabia  •  4 months ago
      If your National Carrier operates at a loss and does not belong to the government something is wrong. But then what is right in the PH maybe just the banana trees the national food for *&^%$#@.
    • skilled  •  4 months ago
      How much? let me see if I can afford another investment.
    • World B. Free  •  Manila, National Capital Region  •  4 months ago
      maybe the bottom line is not looking good because of shrinking market. PAL is not even fit to fly in europe because of safety issues. kung bahay ito maraming renovation ang kailangan.
    • Gene  •  4 months ago
      yeah right
    • marnie  •  Manila, National Capital Region  •  4 months ago
      MONOPOLY na ng mga COJUANGCO ang mga major industry sa pinas ah... tsk tsk tsk
    • sprtn frd  •  Manila, National Capital Region  •  4 months ago
      sak.hiphop/lollipop, asiong salonga, and the like, mga UNGAS mag BID na kyo. wtw.
    • Damian Isaguirre  •  Winnipeg, Canada  •  4 months ago
      NGAWNGAW NG NGAWNGAW ANG PALACE SA MGA BAGAY NA WALA NAMAN SILANG PAKIALAM AT WALANG MAGAGAWA. IF LUCIO TAN SELLS HIS CONTROLLING STAKE ON THE FLAG CARRIER EH ANO NAMAN ANG MAGAGAWA NG GOVERNMENT. GOVERNMENT FUND INSTITUTIONS SUCH AS SSS OR GSIS MAY BUY INTO IT BUT THE PALACE HAS NO BUSINESS MAKING PRESS RELEASES ON THS MATTER BECAUSE WALANG ADDED VALUE ITO. PAMPAGULO LANG.
    • krokiss  •  4 months ago
      palaging late pal
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