U-Land in Air Philippines buy

Taiwan's U-Land Airlines has struck a deal with Air Philippines to buy a 30 per cent stake in the Manila-based air carrier. It declined to disclose the value of the deal. 'U-Land is to work with Air Philippines for joint operation of domestic and international routes in the Philippines,' said U-Land spokesman Chen Shu-chen. Air Philippines, capitalised at 3.5 billion peso (about HK$651.69 million), has 12 Boeing 737-200 and four YS-11 aircraft, operating 12 domestic routes and chartered international flights, Ms Chen said.