Philippine Airlines for years have experience financial failures and receivership.On April 4, 2012, San Miguel Corporation bought a 49-percent stake in Philippine Airlines for $500 million as part of a strategy to move away from its beer and food businesses.And with the Fleet Modernisation Program it has the ordered 54 Airbus aircraft with a list price of $7-billion on August 28, 2012. Following the removal of the European Union ban on Philippine Airlines, the flag carrier has indicated that it hopes to reestablish direct flights to London, Paris, Amsterdam, Frankfurt, Rome and Madrid by September 2013.
Posted on: Sat, 13 Jul 2013 03:59:35 +0000
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