P9-PAL
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PAL Announces Plan to Build Nation’s Largest Airport F ollowing the signing, Tuesday, August 28, 2012, of a $ 7 Billion deal to purchase 54 Airbus Jets, the biggest aircraft order in the country’s history, the Philippine Airlines (PAL), the country’s Flag Carrier, Chairman and CEO, Lucio Tan and Ramon S. Ang, COO, announced in a news conference, plans to build what could be the largest airport in the Philippines. The planned airport would be able to handle 4 times as many flights per hour as the NAIA in Pasay City which can handle 36 flights per hour. The company’s aggressive expansion program will benefit some 2,600 PAL employees retrenched in October, 2011. PAL President, Ramon S. Ang who serves as PAL’s controlling shareholder of San Miguel Corporation, declined to disclose the prospective location but said the company would need at least 2,000 hectares of land for the project and would be closer to Manila than the Clark International Airport in Pampanga which is being groomed by the government to replace NAIA. The new airport which will be exclusive to PAL and it’s sister firm, PAL Express, (formerly Air Philippines) would have two parallel runways with the option of having two more. Parallel runways mean two planes can take off and land at the same time, now impossible at NAIA’s perpendicular runways. Ang said, the company would shell out about $500 Million in equity for the airport project. The rest of the project cost would be financed using loans from foreign or local banks. Once approved by the government, Ang said, project would be completed in 3 years. “We plan to pitch this to Pres. Aquino in January or February. Hopefully this is aligned with the government’s plan,” he said. Ang said the new airport together with other components of PAL’s expansion, could solve problems hounding the airline for more than a decade. RAMON ANG LUCIO TAN TALK OF THE TOWN VOL. 2 NO. 2 9
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Transcript of P9-PAL
PAL Announces Plan to BuildNation’s Largest Airport
Following the signing, Tuesday, August 28, 2012, of a $ 7 Billion deal to purchase 54 Airbus Jets, the biggest aircraft order in the country’s history, the Philippine Airlines (PAL), the country’s Flag Carrier, Chairman and CEO, Lucio Tan and Ramon S. Ang, COO, announced in a news conference, plans to build what could be the largest airport
in the Philippines. The planned airport would be able to handle 4 times as many flights per hour as the NAIA in Pasay City which can handle 36 flights per hour.
The company’s aggressive expansion program will benefit some 2,600 PAL employees retrenched in October, 2011.
PAL President, Ramon S. Ang who serves as PAL’s controlling shareholder of San Miguel Corporation, declined to disclose the prospective location but said the company would need at least 2,000 hectares of land for the project and would be closer to Manila than the Clark International Airport in Pampanga which is being groomed by the government to replace NAIA.
The new airport which will be exclusive to PAL and it’s sister firm, PAL Express, (formerly Air Philippines) would have two parallel runways with the option of having two more. Parallel runways mean two planes can take off and land at the same time, now impossible at NAIA’s perpendicular runways.
Ang said, the company would shell out about $500 Million in equity for the airport project. The rest of the project cost would be financed using loans from foreign or local banks.
Once approved by the government, Ang said, project would be completed in 3 years. “We plan to pitch this to Pres. Aquino in January or February. Hopefully this is aligned with the government’s plan,” he said.
Ang said the new airport together with other components of PAL’s expansion, could solve problems hounding the airline for more than a decade.
RAMON ANG
LUCIO TAN
TALK OF THE TOWN VOL. 2 NO. 2 9
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