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PAL Files for Bankruptcy

Discussion in 'Off-Topic Forum' started by PatO, Sep 5, 2021.

  1. PatO

    PatO DI Forum Luminary Highly Rated Poster Showcase Reviewer Veteran Marines

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    Philippines Airlines files for bankruptcy.
     
  2. Michael. B

    Michael. B DI Member Showcase Reviewer

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    Just a formality in the USA to keep the vultures away while the airline gets over the issues caused by this pandemic
     
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  3. Dutchie

    Dutchie DI Senior Member Showcase Reviewer Veteran Army

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    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.
     
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  4. OP
    OP
    PatO

    PatO DI Forum Luminary Highly Rated Poster Showcase Reviewer Veteran Marines

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    Japan ANA Holdings are part owners of PAL
     
  5. Crystalhead

    Crystalhead ADMIN Admin ★ Forum Moderator ★ ★ Global Mod ★ ★ Moderator ★ ★★ Forum Sponsor ★★ ★ No Ads ★ Highly Rated Poster Showcase Reviewer Veteran Army

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    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!
     
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  6. eskirvin

    eskirvin DI Forum Adept Blood Donor Veteran Navy

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    I've always thought PAL was a terrible business. Now it's documented. Lovely.
     
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