Philippine Airlines (PAL) is considering the filing of bankruptcy court protection in the United States as it seeks time to restructure debts and ensure continued operations while the COVID-19 pandemic crushes demand for air travel around the world.
Sources told the Inquirer a final decision has yet to be made although the filing—the first ever for the storied flag carrier—could happen in the coming weeks.
It comes amid a period of upheaval in the aviation sector, the slow pace of recovery of flights even within the Philippines due to a myriad of COVID-19 restrictions and limited financial support from the government.
On the table is a Chapter 11 filing in the United States….
Keep on reading: PAL eyes US court protection from creditors amid COVID-19