Japan: All Nippon Airways to acquire 10% stake in Philippine Airlines

All Nippon Airways President and Chief Executive Officer Shinya Katanozaka and PAL director Michael Tan, who also serves as president of LT Group Inc., attended a business and capital partnership ceremony with other executives in Tokyo on Friday.

ANA is seeking to expand its partnerships with Asian airlines, previously acquiring equity stakes in South Korea’s Asiana Airlines in 2007 and Vietnam’s Vietnam Airlines in 2016. PAL is the largest airline in the Philippines.

Since 2014, ANA and PAL have partnered on code-sharing and mileage programs and jointly operated check-in counters, among other endeavors. Following the investment, ANA will name a member to PAL’s board of directors to further strengthen ties. The two companies plan to collaborate on catering services and learn about each other’s marketing technologies.

In addition to its airline business, ANA is also seeking to develop its import business for agricultural products such as bananas and win orders for subway and airport expansion projects.

Source: elevenmyanmar.com


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