NEWSFLASH

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AIR PHILIPPINES FLYING TO HK, SINGAPORE, KOREA

Manila, March 7, 1998 - Despite the financial crisis gripping the region, Air Philippines will continue to pursue plans for flights to Hong Kong, Singapore and South Korea later this year.

Officials of the airline also announced that it will acquire three Boeing 737 planes this year to expand its fleet.

William Gatchalian, Air Philippines owner, told a news briefing the airline may start its foreign flights after the May 11 national elections. He expects the country's economy to recover from the regional currency turmoil by that time.

Air Philippines president Augustus Paiso said the company will acquire the Boeing planes this year to add to an existing fleet of 10 planes, including six Boeing 737s.

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