Air21 president Lito Alvarez said that the Lina Group of Companies has controlling shares in Burger King that would allow the Air21 Express to carry the name of the fastfood chain starting in the coming PBA Fiesta Conference.
Alvarez said Burger King is under Lina Heim Corporate Services Inc. which is registered with the Securities and Exchange Commission. That being the case, Burger King can take over the Air21 franchise even without paying any fee at all.
No less than PBA commissioner Sonny Barrios said Air21 can switch name to Burger King without any payment involved if proven the fastfood chain is under a holding company owned by businessman-sportsman Bert Lina.
“That’s the spirit of the league’s communication to Air2100 Inc. back in January, 2002,” said Barrios.
“Back then, the only products they can use were FedEx, Air21 and the likes – obviously not Burger King – because their franchise name was Air2100 Inc. But that was temporary with then commissioner Jun Bernardino writing them a letter saying they can change their ownership structure, having a holding company for flexibility,” Barrios explained.
Barrios said a franchise can use any product with ownership of at least 33 and 1/3 percent in any subsidiary under the holding company.
He, however, stressed everything is on hold until after Air21 goes through the process of proving Burger King ownership.
“I have to emphasize we’re not making it difficult for Air21. The group has always been compliant and I know they will do the same here. But let’s wait for the process to unfold,” said Barrios.
Board chairman Joaqui Trillo called the meeting Monday to discuss the concerns of the governors on Air21’s plan. – Nelson Beltran