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Business

Philippine Airlines hopes for new investor within first half

Company says it is in advanced talks with a potential partner

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A Philippine Airlines flight stewardess demonstrates safety measures to passengers before take-off.   © Reuters

MANILA -- Philippine Airlines is hoping to strike a deal with a foreign investor within the first half to help the carrier upgrade services and expand its network globally, President Jaime Bautista said.

Speaking to reporters on March 24, the head of the Philippines' largest airline declined to name the potential partner. But he said discussions were in "advanced" stages and a due diligence had been completed. "We're just talking about some other nitty-gritty [details]," he said.

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