PAL sets new closing date for investment in Cambodia Airlines
The deal between national flag carrier Philippine Airlines (PAL) and Royal Group of Cambodia (RCG) to form Cambodia Airlines Co. Ltd. is set to be completed within the next two months.
This was according to Ma. Cecilia Pesayco, assistant corporate secretary of PAL’s parent firm PAL Holdings Inc., who said the closing date of the completion of the joint venture with RCG’s Inter Logistics (Cambodia) Co. Ltd. (ILC) has been moved to Oct. 15—three months longer than the July 15 original closing date target. …
