07.09.2021
Artikel Nummer: 37571
PAL seeks Chapter 11 protection
On 3 September 2021, Philippine Airlines (PAL) announced its voluntary decision to undergo financial restructuring under the US Chapter 11 process.
This step is part of a "set of major agreements" PAL has reached with substantially all of its stakeholders, "and with one objective: to build a stronger Philippine Airlines so that we can serve our customers better and continue our mission as a full-service airline and flag carrier of the Philippines".
Founded 80 years ago, PAL confirms that "all passenger and cargo flights will continue to operate". (ah)