Who wants PAL? Not Lufthansa

Lucio Tan says he is in talks to sell part of Philippine Airlines to Lufthansa. An unlikely story, which has subsequently been denied by the German carrier.

Lucio Tan claims to be in talks to sell part of his controlling stake in debt-ridden Philippine Airlines PAL to Lufthansa, though these would appear to be fairly one-sided at present.

There are no talks regarding buying shares in PAL, says Lufthansa spokeswoman Clara So.

Like many big corporations, Lufthansa normally maintains a barrier of silence when its name is churned out of the rumour mill. However, this case is probably a bit more sensitive than...

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