Air Philippines Corporation owns and operates an airline under the service brand name PAL Express. The company offers low cost point-to-point airline services. It operates aircraft to various destinations, such as Bacolod, Busuanga, Butuan, Cagayan de Oro, Calbayog, Catarman, Caticlan (Boracay), Clark, Cebu, Cotabato, Davao, Dumaguete, Gen. Santos, Hong Kong, Iloilo, Jolo, Kalibo, Laoag, Legazpi, Manila, Masbate, Naga, Ozamiz, Pagadian, Puerto Princesa, San Jose (Mindoro), Singapore, Surigao, Tacloban, Tagbirana, Tawi-tawi, Tuguegarao, and Zamboanga, the Philippines. The company was founded in 1995 and is based in Pasay City, the Philippines. Air Philippines Corporation operates as a subsidi...
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Founded in 1995
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LT Group Eyes To Divest Some Companies
Jun 20 13
LT Group, Inc. (PSE:LTG) President Michael G. Tan said his family is ready to exit the airline industry with the possible sale of its remaining stake in Philippine Airlines, Inc. and Airphilexpress Inc. "We are talking to outside investors" he said, referring to the sale of its remaining 51% stake in Philippine Airlines, Inc. and Airphilexpress Inc. "It is more of a strategic (move) because airline is not one of... the industries that we want to be in, that is also why it is not part of the LT Group," he said. He said the company may grow or divest companies that are not part of the LT Group, such as MacroAsia Corp. (PSE:MAC) and Victorias Milling Company, Inc. (PSE:VMC). "So companies that are under LT Group will be under LT Group," Mr. Tan said. "We will keep growing these companies and we will look for opportunities to grow them, and companies outside are considered not strategic, so we will look at opportunities to either grow them or sell them," he further said. Shares of LT Group dropped by 30 centavos or 1.31% to PHP 22.55 per share on June 19, 2013 from PHP 22.85 on June 18, 2013.