The buyer of the 51% stake of tycoon Lucio Tan in legacy carrier Philippine Airlines (PAL) remains a mystery. What we know from the statements and a stock exchange disclosure on July is that Dubai-based Emirates is not the one and Japan’s All Nippon Airways (ANA) is a possibility. Tan wants to dispose PAL, which is now considered not a core business of the newly re-organized group. The other PAL shareholder, San Miguel Corp, had said it prefers the soon-to-be new business partner to be profitable and well-known.
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