Big plans for Cambodian Airlines

PHNOM PENH, 14 May 2013: Cambodia Airlines plans to spend US$1.5 billion to acquire up to 22 planes, a move that might see the new airline’s fleet size overtake that of national carrier Cambodia Angkor Air.

According to Manila-based news network, Rappler,  partners Philippine Airlines (PAL) and a Cambodian tycoon will spend US$1.5 billion to acquire new aircraft for Cambodia Airlines.

PAL’s part-owner San Miguel Corp and Cambodia Airlines will acquire 16 to 22 new aircraft to be used in code-sharing agreement flights between the two airlines.

PAL president and COO Ramon Ang said: “We will deploy 16 to 22 aircraft as soon as the new airline is ready to fly.”

The code-sharing agreement will cover both short and long haul destinations.

PAL recently announced its partnership with Cambodia’s Royal Group of Companies headed by business tycoon Okha Kith Meng to launch a new international airline called Cambodia Airlines.

Philippine Airlines holds a 49% stake in Cambodia Airlines, while the local conglomerate Royal Group owns the rest.

Sourced: ttrweekly