The US court has approved Philippine Airlines Inc. (PAL) access to its $505 million debtor-in-possession (DIP) financing, a core feature of the flag carrier’s restructuring plan. Philippine-Airlines-NAIA-Slider “This important step confirms our recovery process is on track as we continue to...
Philippine Airlines (PAL) expects to be out of Chapter 11 before this year ends and remains optimistic it will survive and "fly long into the future", although travel demand won't return to pre-pandemic levels until 2024-2025. pal-aircraft_316x210px The flag carrier, which filed for bankruptcy in...
PAL Holdings Inc. (PHI) Thursday, (June 17) reported a net comprehensive loss of P73 billion on total revenues of P55.3 billion and total expenses of P81.8 billion for the 2020 calendar year. PAL Holdings managed to reduce its expenses by 46 percent versus 2019. However, this was offset by a 64...
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...
