PAL & Airphil Express – Lucio Tan confirms

A few days ago we informed you about the investments of the San Miguel Group in PAL, the holding of Philippine Airlines. (read here). Yesterday evening Lucio Tan confirmed the investments of the San Miguel Corporation.

Wednesday, April 4, 2012
MESSAGE FROM DR. LUCIO C. TAN

To my Airphil Express Family,

I wish to share with you a very important development in Airphil Express’ corporate existence.

Last night, San Miguel Corp. president Ramon S. Ang and I, signed an investment agreement which paves the way for SMC’s entry into Airphil Express.

This development bodes well for the airline as one of the country’s fastest growing low-cost carriers. The expected infusion of fresh capital and planned acquisition of new fleet are expected to result in better service to the flying public and more secure jobs.

I am proud to say that over the past several years, Airphil Express has displayed competitive edge in the market clamoring for affordable yet efficient airline service. It has been a tough and uphill climb, but we managed to survive in this challenging airline environment.

SMC’s entry should further boost efforts towards ensuring synergy between our two companies. With this mindset, I believe we are entering into a new and exciting phase in our corporate existence.

I look forward to your continuing support in making Airphil Express the leading low cost carrier in the country.

DR. LUCIO C. TAN

We only can say cheers