July 25, 2014 10:27 PM ET

Airlines

Company Overview of Airphilexpress Inc.

Company Overview

Airphilexpress Inc. owns and operates an airline. It offers travel services, including travel insurance; and tour packages, corporate accounts program, and cargo services. The company operates aircraft to various destinations, such as Bacolod, Busuanga, Butuan, Cagayan de Oro, Calbayog, Catarman, Caticlan (Boracay), Clark, Cebu, Cotabato, Davao, Dumaguete, Gen. Santos, Hong Kong, Iloilo, Jolo, Kalibo, Laoag, Legazpi, Manila, Masbate, Naga, Ozamiz, Pagadian, Puerto Princesa, San Jose (Mindoro), Singapore, Surigao, Tacloban, Tagbirana, Tawi-tawi, Tuguegarao, and Zamboanga. Airphilexpress Inc. was formerly known as Air Philippines Corp. and changed its name in March 2010. The company was founde...

R1 Hangar, APC Gate 1

Andrews Avenue

Nichols

Pasay City,  1300

Philippines

Founded in 1995

Phone:

63 2 851 7601

Fax:

63 2 851 7922

Key Executives for Airphilexpress Inc.

Airphilexpress Inc. does not have any Key Executives recorded.

Airphilexpress Inc. Key Developments

LT Group Eyes To Divest Some Companies

LT Group, Inc. (PSE:LTG) President Michael G. Tan said his family is ready to exit the airline industry with the possible sale of its remaining stake in Philippine Airlines, Inc. and Airphilexpress Inc. "We are talking to outside investors" he said, referring to the sale of its remaining 51% stake in Philippine Airlines, Inc. and Airphilexpress Inc. "It is more of a strategic (move) because airline is not one of... the industries that we want to be in, that is also why it is not part of the LT Group," he said. He said the company may grow or divest companies that are not part of the LT Group, such as MacroAsia Corp. (PSE:MAC) and Victorias Milling Company, Inc. (PSE:VMC). "So companies that are under LT Group will be under LT Group," Mr. Tan said. "We will keep growing these companies and we will look for opportunities to grow them, and companies outside are considered not strategic, so we will look at opportunities to either grow them or sell them," he further said. Shares of LT Group dropped by 30 centavos or 1.31% to PHP 22.55 per share on June 19, 2013 from PHP 22.85 on June 18, 2013.

Tanduay Not To Acquire Tan Group's Airline Business

Tanduay Holdings Inc. has cancelled its plan to acquire PAL Holdings, Inc. and Airphilexpress Inc. from Lucio C. Tan Group of Companies. In a disclosure to the Philippine Stock Exchange, Tanduay said its board has approved the deferment of the planned acquisition of the airline business while approving the acquisition of up to 100% equity interest in other Tan firms. A source familiar with the transactions said the firm decided to defer the acquisition of Tan's 51% stake in PAL and AirPhil as the airline business has yet to contribute positively to the firm's profit at this time. Tanduay may still decide to acquire Tan's PAL and AirPhil stakes in about three years.

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Recent Private Companies Transactions

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