ANA Holdings Inc. (TSE:9202) is in talks with Philippine Airlines, Inc.to make investment. ANA is in talks with the Philippine Airlines's parent company PAL Holdings, Inc. (PSE:PAL) about making an investment but it had not yet made a “concrete decision”. Philippine Airlines is closing in on selling a minority stake to a foreign strategic investor, with a deal likely to be sealed in the first half of 2019 its president said.

An ANA spokeswoman said the airline continually reviewed its market strategy and was considering investments that fit with its medium-term corporate strategy. “We are in discussion with PAL Holdings but we have not made a concrete decision yet,” the ANA spokeswoman said in an emailed statement. Philippine Airlines is “talking to several investors” about the stake, President Jaime Bautista said, but he declined to name the investors due to confidentiality agreements.