San Miguel sells stake in PAL to billionaire Lucio Tan
San Miguel Corp has agreed to sell its back its stock of Philippine Airlines to major shareholder, billionaire Lucio Tan.
The Philippines’ second richest man will then have complete control of the airline once the transfer of San Miguel’s 49% stake is completed.
The deal is valued at around $1 billion and Tan has one week to complete certain unnamed formalities.
The sale value reflects the airline’s resurgence after US avaiation officials restored the highest aviation safety rating on the country.
PAL has been revamping its fleet and last year agreed a large order with aircraft maker Airbus.
It plans to extend services and open up new routes in Europe and North America.
The carrier resumed flights to London last year after a long gap and plans to expand further in Australia and Canada.
The deal is an about-turn for Tan, who last year said he was considering selling his 51% stake in the carrier.
The deal also marks a change of direction for San Miguel Corp which had been on an agressive acquisition trail, diversifying into a number of sectors.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
TAP Air Portugal to operate 29 flights due to strike on December 11