14-Jan-2011 10:12 AM

PAL in 'exploratory' talks with local and foreign investors

PAL Holdings Inc confirmed “exploratory” talks with potential local and foreign investors (Business World Online, 13-Jan-2011). PAL Holdings president Jaime Bautista neither confirmed nor denied the carrier was in discussions with San Miguel Corp President Ramon Ang. Mr Bautista noted that for months, there has been speculation that PAL was on the selling block following losses of USD312.1 million in fiscal years 2008/09 and 2009/10.