Philippine Airlines (PAL) says it is considering acquiring at least eight wide-bodied aircraft

Philippine Airlines (PAL) says it is considering acquiring at least eight wide-bodied aircraft expand its routes to the United States and Canada and to return to Europe after an absence of about a decade. The airline may spend up to USD 200 million for each aircraft to be acquired, Chairman Lucio Tan said. PAL President, Jaime Bautista, said they had not yet decided whether to order the additional aircraft from Airbus or Boeing. “The planes will arrive between 2008 and 2009. We’re looking at flying to California and we’re also (looking at reviving flights) to Europe,” Bautista said. The airline is in the final phase of talks with three European export credit agencies to secure a loan of up to USD 600 million to fund its re-fleeting programme. This expansion is on top of the 20 narrow-bodied Airbus planes that PAL is set to acquire, starting this year, for more than USD 840 million.PAL has already unveiled the first of its A319s, which it plans to use for domestic and regional flights. www.philippineairlines.com