ANA HOLDINGS INC. (ANA HD), parent of All Nippon Airways (ANA), Japan’s largest airline, will invest USD 95 Million in PAL Holdings Inc. (PAL Holdings) and acquire 9.5% of PAL Holding’s outstanding shares. PAL Holdings is the parent of Philippine Airlines Inc. (PAL), the Philippine flag carrier and the largest airline in the Philippines. ANA HD will acquire the shares from Trustmark Holdings Corporation, which is owned by the Lucio Tan family and is the largest shareholder of PAL Holdings.
PAL has embarked on a full-scale expansion program that has seen its fleet and network grow to almost 100 aircraft and 80 destinations in four continents. PAL is also laying emphasis on product transformation that saw PAL recognized recently as the World’s Most Improved Airline for 2019.
In line with the Mid-Term Corporate Strategy for FY2018-2022, the ANA Group is expanding its international group network, which is considered its main growth pillar, and strengthening its partnerships with foreign airlines to provide further convenience to its passengers.
Philippine Airlines currently operates 84 flights weekly on 9 routes to Japan and ANA operates 14 flights weekly on 2 routes to the Philippines. The two carriers have codeshare operations on Japan – Philippine routes and domestic routes within Japan and the Philippines, linking a total of 16 Japanese and 11 Philippine destinations.
Completion of the investment is subject to certain closing conditions.
(Source: Philippine Airlines Inc.)