The country’s flag carrier, the Philippine Airlines (PAL) is for sale “at the right price,” Taipan Lucio Tan said.

Tan, who is the chairman and chief executive officer of PAL, admitted that he is talking to both Ramon Ang and Manuel Pangilinan, the top executives of San Miguel Corp. and Philippine Long Distance Telephone Co. (PLDT), respectively.

“Both are my friends,” Tan said in a chance interview with reporters.

Ang, who had been vocal about his intention to acquire a big chunk of PAL, disclosed last month that the planned venture would finance the refleeting and modernization of the carrier.

Rumors regarding Pangilinan’s plan to acquire the flag carrier, on the other hand, stemmed from his move to establish an aviation company, Pacific Global One Aviation Inc., through PLDT and Metro Pacific Investments Corp. which he both chairs.

Pangilinan also chairs Philex Mining Corp., Manila Electric Co. and Metro Pacific Tollways Corp.

However, Pangilinan has reportedly decided not to push through with the bid, saying that the acquisition into PAL would raise an issue of conflict of interest with his Digitel partner, Cebu Pacific owner John Gokongwei.

When asked whether or not PAL is for sale, Tan said “If the price is right.”

He added that he has not yet “decided” as to how much of the flag carrier would be sold if he decides to sell part of PAL.