Philippine Airlines To Restructure, Awaits $500M Injection

Philippine Airlines aircraft parked at Manila's Ninoy Aquino International in 2020.
Credit: STR / AFP / Getty Images
Philippine Airlines (PAL) has confirmed that it is nearing a restructuring to ensure the airline’s survival as it posted a record annual net loss of PHP73 billion ($1.5 billion) for fiscal 2020. Auditors have flagged concerns over the flag-carrier’s ability to continue because of its mounting...

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