San Miguel Corp., which owns 49% of Philippine Airlines Holdings, has given formal notification of its intention to develop a new international airport for Manila. In a statement to the Philippine stock exchange, San Miguel says it and LT Group are in discussions about working together to develop a new airport that would serve Philippine Airlines and its subsidiary, Air Philippines, known as Airphil Express. Billionaire Lucio Tan, who is another large shareholder in Philippine Airlines ...
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