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LONDON — “Peter Pan” is set to fly again, in helmer P.J. Hogan’s new Christmas pic. But it has taken more than the simple strings of the eternal boy’s first stage flight in 1905 and even more than the digital magic of Steven Spielberg’s 1991 “Hook” to get this cinematic version airborne.

Along with distribs Universal (domestic and English-language foreign) and Columbia (other overseas), pic has come to fruition through an amalgamation of producing partners including Sony’s Revolution and Red Wagon shingles plus Warner Roadshow.

But the most surprising partner is Allied Stars, the rarely used production shingle of retail-hotel-sports mogul Mohamed Al Fayed.

Ensconced in his private suite at Harrods, his luxury department store in London, Fayed seems unsurprised by the laborious collaboration on which he holds an exec producer credit.

Rather, he’s buoyed by the upcoming Dec. 9 launch of “Peter Pan,” which will bow in London in support of charity outfit Great Ormond Street Hospital, the copyright holder of the J.M. Barrie source material that Fayed exclusively administers.

With all of his other business activities, it’s fair to wonder why he revved up Allied Stars, the production outfit formerly run by his late son Dodi Fayed, who was killed with Princess Diana in a still-controversial car accident.

“Allied Stars was Dodi’s idea,” acknowledges Fayed. “He was in love with and involved with movies since he was a child. But the culture I come from (Egypt) creates a natural link to the movie business, whether it be larger-than-life creations like the pyramids or romantic characters like Cleopatra. It’s a culture of fantasy, dreams and what you might call the first special effects!”

Fayed doesn’t mention it, but “Peter Pan” will carry an “In memory of Dodi Fayed” dedication.

Allied Stars began auspiciously in the early ’80s with the Oscar-winning hit “Chariots of Fire,” but outside of the hit actioner “F/X,” Dodi’s film career was fairly uneventful.

Fantasy and pyramids aside, does the senior Fayed think film is really a good business to be in?

He gives one of several hearty chuckles and exclaims candidly, “It’s a casino!”

Fayed quickly compares his entertainment ventures to his sports interests, noting, “I own a football club (Fulham), and that’s another business where you have to accept winning and losing every day.

“You lose and you feel like shit. You win and it’s the greatest feeling in the world.”

Fayed says he doesn’t look at “Peter Pan” as a single foray into entertainment, asserting that he “looks at scripts and projects every day.”

He says he is especially interested in “making a move into the music business.”

With the current financial woes of that industry, he’ll need all of his good spirits, the magic of “Peter Pan” and the Wonders of the Nile to pull it off.

Does Fayed think that “Peter Pan’s” refusal to grow up has a place in the hard, cold business world?

“I hope so,” he laughs, “because I feel 25!”