PHILIPPINES: Philippine tycoon buys Johnny Cargo

Philippine Airlines-owner Lucio Tan has finalised the purchase of a 56 per cent stake in the Filipino-owned, but US-based Johnny Air Cargo, via his company MRC Allied. Prior to the purchase Johnny Air was valued at US$33 million. MRC Allied will now lead the company into a phase of “aggressive” expansion, opening 20 new offices […]


Philippine Airlines-owner Lucio Tan has finalised the purchase of a 56 per cent stake in the Filipino-owned, but US-based Johnny Air Cargo, via his company MRC Allied. Prior to the purchase Johnny Air was valued at US$33 million. MRC Allied will now lead the company into a phase of “aggressive” expansion, opening 20 new offices over the next year, MRC said.