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Philippine Airlines files for bankruptcy protection in US

The creditors have agreed to ‘forgive’ a $ 2 billion (100 billion Philippine francs) debt to the only airline in the Philippines having an IOSA certificate. PAL's chief financial officer, Nilo Thaddeus Rodriguez, said the company would make every effort to complete the restructuring on its own. At the same time, the results of its holding will depend on how quickly the world tourism business begins to recover. Many countries are still closed due to the coronavirus infection. The head of the carrier...

PHILIPPINE AIRLINES READY TO FILE FOR BANKRUPTCY

According to local media reports, Philippine Airlines Inc. Company (PAL) has begun negotiations with creditors on restructuring and plans to file a bankruptcy petition under the US bankruptcy law. The company had been working on plans for financial recovery, considering the possibility ...

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