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BusinessWorld May 28, 2021 | 12:06 am PAL Holdings, Inc. said Thursday that its board of directors has approved the appointment of Lucio C. Tan III, grandson of Chairman Lucio C. Tan, as vice-president of the company. âPlease be advised that at the meeting of the board of directors held on May 26, 2021, the board approved the appointment of Mr. Lucio C. Tan III as vice-president of PAL Holdings, Inc.,â the listed operator of the Philippine Airlines said in a disclosure to the stock exchange. The appointment of the chairmanâs grandson and son of the late Lucio âBongâ K. Tan, Jr. comes amid reports of bankruptcy protection plans. ....
Philippine Airlines (PAL) has "no definite decision at this time" about filing for bankruptcy in the US to get court protection from creditors. And yet, "all options are possible," the flag carrier acknowledged in its latest disclosure to the Philippine Stock Exchange. To keep afloat, PAL is streaml ....
Published December 27, 2020, 8:00 AM The transport sector was one of the biggest casualties of the pandemic as borders shut down. Airlines have been soaring high in the past decade, riding on the popularity of cheap travel. But in a snap, fear of catching COVID 19 killed everyone’s appetite for globe-trotting. No one wants to sit strapped, knee-by-thigh close to strangers, in an enclosed inescapable space for hours, zipping from one end of the world to the other. The International Air Transport Association (IATA) estimated revenues will plummet by $419 billion this year, half of the haul in 2019. In terms of employment, it’s 25 million airline workers losing their jobs. ....