Philippine Airlines (PAL) has received approval from the Southern District of New York bankruptcy court on a “final basis” to access a debtor-in-possession (DIP) financing worth $505 million. This will be used to support the carrier’s ongoing operations and recovery...
The parent company of Philippine Airlines, PAL Holdings, booked a record 73 billion pesos (US$1.51 billion) loss in 2020 as the COVID-19 pandemic severely impacted the global aviation sector. The company said its management and stakeholders are working on the final...
On the back of a Ps 73 billion ($1.5 billion) net loss for 2020, Philippine Airlines (PAL) is working on a “comprehensive restructuring” that should bring it back to profitability in the near future. The restructuring could include placing the airline under Chapter 11...
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