Philippine Airlines into talks with foreign carriers for possible tie-up

Philippine Airlines is holding negotiations with foreign carriers for a possible tie-up, indicated Ramon Ang, a close associate of the airline owner Lucio Tan.

Ang said that he doesn’t believe that Tan is going to sell Philippine Airlines, but he may seriously consider joining hands with investors or seeking partnership with a foreign carrier.

Ramon Ang is President and Chief Executive Officer of conglomerate San Miguel Corp. Speaking to mediapersons, Ang said that though he is a personal friend of Tan family, but he is not involved in any manner in the discussions Tan is holding regarding Philippine Airlines.

Ang’s company San Miguel Corp. has interests in oil, power, airport, food, beverages, coal and other investments.

Ang, however, stressed that though he is not directly involved in the negotiations, but being a close friend of Tan he would surely provide all help and facilitate the entry of new investors whenever required.

Recently, Philippine Airlines has been trying to curb growing losses and ensure long-term profitability. The airline has been taking stiff measures to curtail losses in every way possible and is planning 2,600 jobs cut by October 1, 2011.