PAL Files For Chapter 11, Plans Major Widebody Cuts
Credit: Airbus/A. Doumenjou -- master films
Philippine Airlines (PAL) has filed for bankruptcy protection in the U.S. with pre-packaged financing, and it has broad creditor agreement on a restructuring plan that includes significant fleet cuts. The carrier’s Chapter 11 bankruptcy filing was submitted on Sept. 3 through the Bankruptcy Court...
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