Philippine Airlines’ President, Jaime Bautista, stated the carrier is in discussion with several fund managers and Asian carriers for possible investment in the carrier (manilatimes.net, 19-Jul-2010). Mr Bautista denied reports PAL is in talks with Cathay Pacific and Emirates.
PAL: “What the shareholders want is infusion of fresh capital, and PAL will get the cash and not the shareholders. There will be an issuance of new shares, and it is up to the shareholders if they want to subscribe.” Jaime Bautista, President of Philippine Airlines. Source: Business Mirror, 19-Jul-2010.