Just a formality in the USA to keep the vultures away while the airline gets over the issues caused by this pandemic
I'm thinking they probably need to organize some refinancing, get rid of a couple airplanes, and use the bankruptcy protection to put some additional pressure on lease companies / banks / bondholders to agree to the restructuring plans. And no, it's not just for show, PAL suffered huge losses because of the pandemic sofar. Hopefully the restructuring plans don't "assume" that it's going to be clear skies and fair weather for the airline any time soon.
Just know that if they have to fly to court in any other Country to file this bankruptcy. Make sure they all have a return ticket or no boarding. Good riddance!
