PAL Aquires New Planes

MANILA — Philippine Airlines is acquiring nine turbo-prop aircraft from Canada's Bombardier Aerospace at a cost of 150 million dollars, the airline said on Thursday.
The move is aimed at reviving PAL's operations on secondary routes not served by its bigger jet fleet, the company said in a statement.

The turbo-prop fleet will consist of three Q300 and six Q400 Bombardier aircraft, which are expected to be delivered in the next four to six months, the company said.

PAL is 85 percent controlled by publicly-listed PAL Holdings Inc, which is majority owned by Lucio Tan.

Forbes Magazine lists Tan as the wealthiest man in the Philippines with a net worth of 1.5 billion dollars n 2007.