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Manila Bulletin devider Business devider PAL: Business as usual despite restructure

PAL: Business as usual despite restructure

Published May 12, 2021 10:19 am

It will be business as usual for flag carrier Philippine Airlines (PAL) despite its plans to restructure in order to survive the disaster the pandemic wreaked on the aviation sector.

"Our flights and operations will not be affected in any restructuring," the flag carrier announced in a statement issued Tuesday, May 11.

"We continue to increase our international and domestic flights as the market recovers with easing of travel restrictions," PAL said.

PAL will continue to operate repatriation flights and transport COVID-19 vaccines to and throughout the Philippines, as part of the global effort to combat the pandemic, the airline assured.

“Philippine Airlines management and stakeholders continue to work on a comprehensive restructuring plan that will enable PAL to emerge financially stronger from the current global crisis," the statement continued.

"As the work is ongoing, we will make the necessary disclosures at the proper time, once details are finalized," according to PAL.

​The flag carrier has to restructure some $5 billion borrowings.

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