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
Lucio Tan
Philippine Airlines to outsource ground handling
In an effort to sustain profitability, Philippine Airlines has announced that it will be laying off as many as 117 domestic ground crew beginning in November. In addition, the airline plans to cut costs further in other areas and limit spending in the coming year. The carrier said it will, "disengage from non-core services such as our ground-handling activities in domestic stations, which can be turned over to qualified third-party service providers." Philippine Airlines did not specify how … [Read more...] about Philippine Airlines to outsource ground handling
