Article: Low Cost Airline News - Asia / Pacific.

Apr 21, 2008

PAL Express

PAL Express, a subsidiary of PAL Holdings, which is owned by one of the country's richest men, Lucio Tan, will launch on May 5 with flights between Manila and Caticlan, the nearest airport to island resort Boracay, with later plans to expand to Cebu, in the central Philippines, the officials said. The new airline will acquire nine turbo-prop aircraft -- three Bombardier DHC8-Q300s and six Q400s -- within a year at a cost of USD$150 million, Philippine Airlines president Jaime Bautista told reporters. The airline plans to borrow up to USD$100 million from local lenders to fund the purchases, he added. Apr 15, 2008

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