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San Miguel Corp. Proposes Building New International Airport In Manila
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 Holdings, controls LT Group.