San Miguel in talks with ANA on Philippine Airlines

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San Miguel has held preliminary discussions with All Nippon Airways regarding a possible partnership in flag carrier Philippine Airlines (PAL).

San Miguel made the announcement through a disclosure on the Philippine Stock Exchange after a local media report said that the Philippine conglomerate has plans to bring in a strategic partner for PAL, and was in talks with potential carriers including ANA and Emirates.

San Miguel, however, said in the disclosure that while it has started discussions with ANA, "Emirates Airlines has not approached the company".

In June, Flightglobal Pro reported that Philippine tycoon Lucio Tan had been approached by investors interested to acquire his 51% stake in PAL Holdings and PAL.

San Miguel invested $500 million in PAL's holding companies and its low-cost partner Air Philippines last year, effectively giving it a 49% stake in the carriers.

ANA Group, meanwhile, has said that it plans to make strategic investments in aviation-related businesses in Asia over the next three years.