P.M. BRIEFING : Philippine Airlines Seeks Buyer
- Share via
MANILA — The Philippine government wants to sell part of the national airline to a major foreign investor before listing the company’s shares on the local stock market.
Feliciano Belmonte, general manager of the Government Service Insurance System, which owns 75% of Philippine Airlines, told reporters he would like to see a foreign airline take equity in the national carrier.
He said he was scouting for a group that would buy into the airline but declined to name companies that have expressed interest.
Industry sources said British Airways is among them.
Belmonte said he expects the privatization of the airline by next year but gave no date for the public offer.
It is among about 300 government properties due for transfer to private hands under President Corazon Aquino’s privatization program.
More From the Los Angeles Times
Podcasts
The latest effort is coming from the L.A. County Board of Supervisors. They just announced a $3 million program in conjunction with some nonprofits groups to test and clean the soil at homes still standing in the areas impacted by the Eaton Fire.
California once bet big on offshore wind to help power its clean-energy future, but the Trump administration is now paying developers billions to walk away from their projects. As California’s remaining offshore-wind leases hang in the balance, the state is fighting back in court.
The Hillside Strangler murders terrorized Los Angeles in the late 1970s. The killers were a pair of sadistic cousins. One confessed. The other was set to stand trial—until L.A. prosecutors flinched.
