With the due diligence already completed, Philippine Airlines expects the entry of a strategic investor anytime within the first half of this year. PAL president Jaime Bautista declined to identify the investor stating that it is also an airline company. He did not comment on the country of origin of the strategic investor.
The Philippines allows foreign investor to own up to (maximum) 40% stake of a local company. PAL’s investor is interested in less than 40% although they are willing to give up the maximum allowed if the investor is willing to make that investment.