Philippine tycoon Lucio Tan mulls sale of Philippine Airlines

About a year after San Miguel invested in the airline, Tan’s group is approached by investors to sell its 51% holding.

Philippine tycoon Lucio Tan mulls sale of Philippine Airlines

Tycoon Lucio Tan may sell his majority stake in Philippine Airlines, the country’s national carrier, after investors approached the company with an offer.

Tan owns a 51% stake in Philippine Airlines and its parent, PAL Holdings, which confirmed on Tuesday that investors had approached the tycoon's group with an interest in buying a 51% stake in both PAL Holdings and Philippine Airlines.

“Lucio Tan’s group is seriously looking into the proposal,” it...

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