Lucio Tan claims to be in talks to sell part of his controlling stake in debt-ridden Philippine Airlines PAL to Lufthansa, though these would appear to be fairly one-sided at present.
There are no talks regarding buying shares in PAL, says Lufthansa spokeswoman Clara So.
Like many big corporations, Lufthansa normally maintains a barrier of silence when its name is churned out of the rumour mill. However, this case is probably a bit more sensitive than most.
The German airline is a core partner of the Star Alliance, which has since the start of the year been looking slightly fragile in Asia. Thai Airways, one of the...
