Philippine Airlines (PR, Manila Ninoy Aquino International) is still pursuing a tie up with a local Cambodian telecommunications, banking and property tycoon, Kith Meng, to establish Cambodia Airlines (Phnom Penh) despite the lapsing of an October 15 deadline to complete the deal. According to the Business Inquirer, PAL president Ramon S. Ang blamed the delay on the recent controversial elections held in the country in which long serving incumbent prime minister Hun Sen was returned to power for another term. Mr Ang is, however, optimistic that a deal can still be reached. Valued at USD10million, the transaction called for a 10% down payment to be paid before closing with the balance to be paid upon demand by the board of directors of Cambodia Airlines. Once airborne, Cambodia Airlines would take on Cambodia Angkor Air (K6, Siem Reap), which is controlled by the Cambodian government in partnership with Vietnam Airlines (VN, Hanoi Noi Bai International), as well as other regional carriers.