Philippine Airlines planning to buy 100 aircrafts after San Miguel deal

Philippine Airlines wants to reinvent itself after San Miguel Corp. acquired a stake in the company. The airline recently announced it is planning to buy at least 100 new aircrafts to bolster U.S. services and resume Philippine Airlines flights to Europe.

Ramon Ang and San Miguel Corp., the main owners of the airline, will jointly provide $1 billion to buy the new aircrafts.

Philippine Airlines in a statement said that it wants to join a global airline alliance in order to expand its reach on international routes and to compete with Singapore Airlines and Emirates Airline on long-haul routes.

The airline is planning to immediately resume flights to Europe once it buys the aircrafts. The possible destinations of the airline where it wants to begin new flights include Paris, London, Spain, New York, Chicago and Florida. In the U.S., Philippine Airlines flights are currently being operated out of San Francisco, Los Angeles, Las Vegas and Vancouver.