Philippine Airlines escapes immediate bankruptcy

Photo credit: Me

Tycoon Lucio Tan poured in at least Php 15.2 billion ($300.3 million) into Philippine Airlines, making it safe from immediate bankruptcy, according to PAL president Gilbert Santa Maria.

Santa Maria told the ABS-CBN News Channel (ANC) on Thursday (May 21) that one-third of the capital infusion, or about Php 5 billion ($98.8 million), was deployed this year to keep the airline afloat during the COVID-19 pandemic, which has grounded air travel.

“Without that liquidity, Philippine Airlines would probably not be here anymore,” Santa Maria said.



Fantastic news glad they’re sticking around

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Oof… Good News!

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That’s the second airline to barely miss bankruptcy! I hope this trend continues!

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Another one almost blew the dust. 🙏

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This is great news!

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Are you sure about that?

So glad to hear this, I flew them in 2018 from Sydney to London in 23.5 hours, what was the fastest way to travel between the two cities at the time, and it was half the price of the next cheapest, China Airlines (maybe they should start charging more??). They’re fantastic at least at international service - friendly crew, new aircraft with nice cabin styles and fast IFE, good food and excellent punctuality.

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Yeah, hopefully they will get through this. They are currently trying to be one of the worlds best airlines.

Glad you enjoyed your flight!

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