Philippine Airlines (PR, Manila Ninoy Aquino International) is set to see a change in its ownership at some stage in the future following reports that 51% shareholder, Lucio Tan, is looking to offload his controlling stake to a group of unnamed investors. It had been reported over the weekend that 49% shareholder, diversified conglomerate San Miguel Corp., had sealed a USD500million deal to acquire Lucio Tan's shares, only for it to be denied as false. According to the Philippine Flight Network blog, speculation on the sale of the majority stake in the airline flooded the media when the Lucio Tan group failed to include PAL under the newly formed LT Group holding firm's listing.