Local news reported last week that Philippine Airlines is considering filing bankruptcy protection in the US courts to give the embattled carrier more breathing space to restructure debts which have ballooned to US$5 billion, mostly owed to suppliers and lessors of planes. This would make its proposed debt restructuring plan the largest in the country’s history. Company insiders told local newspaper Inquirer that the embattled flag carrier will likely file court protection in the US … [Read more...] about Philippine Airlines eyes US court protection from creditors