Philippine Airlines To Receive $505M Lifeline

Philippines Airlines
Credit: Ted Aljibe / AFP / Getty Images
Philippine Airlines (PAL) owner Lucio Tan is injecting $505 million in fresh capital and debt financing into the airline as the flag carrier lays out plans to become profitable in 2022. The billionaire’s Buona Sorte Holdings will pump in PHP12.7 billion ($251 million) to PAL, as well as another $250...

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