Japanese air transportation company ANA Holdings Inc. is nearing to acquire 10 percent stake in Philippine Airlines Inc., a unit of airlines holding company PAL Holdings Inc., for 10 billion yen ($91.2 million).
Philippine Airlines, which is in talks with potential investors, said that the deal may happen in the first half of the year.
The investment will enhance Philippine Airlines to extend in other markets.
As a result of the deal, ANA will enhance its footprint in the region after decades of near duopoly in Japan.