Etihad Airways (EY, Abu Dhabi International) has rejected reports in the Filipino media that is interested in acquiring a stake in Philippine Airlines (PR, Manila Ninoy Aquino International). Earlier this month, the Philippine Star newspaper stated Philippine Airlines 51% shareholder, Lucio Tan, would seek to partner the Emirati carrier once it had successfully closed a deal to acquire San Miguel's 49% minority stake.
“We’re not having any talks with Philippine Airlines,” Etihad CEO James Hogan told the Gulf News on the sidelines of a press conference announcing its acquisition of a stake in Alitalia (AZA, Rome Fiumicino). “Will we look at another one [equity stake] this year? I doubt it.”
Hogan also dismissed reports the cash-laden Emirati carrier had also been in talks with Malaysia Airlines (MH, Kuala Lumpur International).
Earlier this year, Etihad Airways enhanced its existing strategic partnership agreement with Philippine Airlines to include collaboration in areas of sales and marketing, cargo, frequent flyer programs, passenger lounges, airport operations, and codeshare flights.
