PHILIPPINE Air Lines (PAL) is not for sale.

This can be gleaned from a statement issued by Joey de Guzman, PAL’s vice president for corporate communications, who said that the pronouncements made by PAL chair Lucio Tan that the airline company is for sale “at the right price” should not be taken at its face value.

According to De Guzman, the PAL management learned that during an event last Friday, Tan was asked by reporters whether or not he was selling PAL.

“He made a rhetorical response that it is for sale `at the right price’ but normally, a response of this nature cannot be taken on its face value and could be subject to various interpretations,” De Guzman stressed.

He was also quick to add that PAL management is not aware of Tan selling any of his shares and what is deemed as “the right price.”

Meanwhile, sources said that indeed, there is no final decision yet on the part of Tan whether or not to place PAL up for sale.

The statements came amid reports that Tan is already selling PAL and that already, at least two business tycoons have shown interest.

PAL is the country’s flag carrier.

De Guzman noted that Tan’s off-the-cuff remark on his alleged willingness to sell was conditioned on price. “He didn’t say when he wants to sell, how much of his shares he will let go, to whom it will be sold or what the ‘right price’ is. Clearly, it’s not simply about what he said, but what he didn’t say,” he stressed.

While Tan said he considers Ramon Ang of San Miguel Corporation and Manuel Pangilinan of Metro Pacific as his “friends”, the PAL chairman never said he was negotiating with them, he added.

“It’s easy for media and other parties to draw conclusions from Mr. Tan’s one-line remark, but we believe that talks of any sale are speculative at best,” he stressed.