SMC to invest 1.5 billion dollars in Cambodia Airlines

Diversified conglomerate San Miguel Corp. (SMC) will invest $1.5 billion for its airline venture in Cambodia, its top executive said yesterday. Cambodia Airlines will have about 20 aircraft in its fleet and add as much as $400 million revenues per year to Philippine Airlines (PAL), said SMC and PAL president Ramon S. Ang in a briefing. … PAL owns a 49-percent stake in Cambodia Airlines while RGC, chaired by Neak Oknha Kith Meng, controls the airline with a 51-percent interest. Ang said Cambodia Airlines targets to reach 16 to 22 aircraft within the next two years, with an initial 10 airlines in the first year of operations.