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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 ...

Modified: 09.07.2021
Philippine Airlines , bankruptcy , company bankruptcy , USA , airline , tourism , coronacrisis
Path: РусБанкрот - СМИ

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 ... ... number of people arriving from abroad fell by 82% (to less than 1.5 million in 2020). In February 2021, the representatives of airline confirmed that PAL is implementing an “enterprise-wide headcount reduction program”. The company announced the reduction ...

Modified: 05.18.2021
bankruptcy , Philippines , Philippine Airlines , airline , corporate bankruptcy , reorganization
Path: РусБанкрот - СМИ
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