Philippine Airlines (PAL) planes are seen parked on tarmac in Manila International Airport in Pasay city, metro Manila September 9, 2014. (Reuters)Philippine Airlines has said it has emerged from bankruptcy after a US court approved its plan to slash up to US$2 billion in debt and obtain additional capital. Air travel in the Philippines collapsed by more than 75 percent in 2020 due to travel restrictions imposed to contain the coronavirus, according to government data. PAL said in September it had cancelled more than 80,000 flights, wiping out US$2 billion in revenue, and let go of more than 2,000 employees. As borders reopen and travel restrictions ease, the airline said it will resume regular flights, including to cities in mainland China and Australia.

Source: The Standard January 01, 2022 12:29 UTC