PAL halts Hong Kong flights until January 21 due to virus controls
Bilyonaryo Lucio Tan’s Philippine Airlines suspended its Hong Kong route after an outbreak of the Omicron coronavirus variant. Hong Kong announced Wednesday it was banning
Philippine Airlines exits US bankruptcy
Philippine Airlines has said it has emerged from bankruptcy after a US court approved its plan to slash up to $2 billion in debt and
Lucio Tan looking forward to restart travel and a brighter future as PAL exits Chapter 11
Philippine Airlines has successfully completed its financial restructuring process and emerged from Chapter 11 with a significantly lower debt burden and more than $550 million
Drag-along, tag-along: PAL to force minority shareholders to join Lucio Tan if he decides to sell bankrupt airline
Philippine Airlines (PAL) is covering all bases in drafting its new shareholder agreement to ensure that minority shareholders would have no choice but to join
PAL defends bankruptcy filing: Many airlines used Chapter 11 to reinvent themselves into more successful firms
Bankrupt Philippine Airlines of bilyonaryo Lucio Tan has vowed to emerge “stronger” from its “voluntary” decision to file a Chapter 11 program in the United States.
Lucio Tan cheers Chapter 11 filing as ‘breakthrough’: PAL to cut fleet by 25%, debt by $2B; raise $655M in new equity, borrowings
Bankrupt Philippine Airlines (PAL) has “voluntarily” filed for Chapter 11 protection in the United States after its owner, bilyonaryo Lucio Tan, has finalized a bailout deal with “substantially” all of its lenders, lessors, and aircraft and engine suppliers to turn the flag carrier “leaner and better-capitalized.”
LT Group gets much-needed P21.8B cash from Fortune-Philip Morris as Lucio Tan scrounges for cash to rescue PAL
Bilyonaryo Lucio Tan’s holding firm more than doubled its cash dividends from Philip Morris Fortune Tobacco Corp. (PMFTC) even though tobacco sales growth cooled down in 2020.
Family board room turbulence: Lucio Tan’s daughter, son quit PAL board
The turbulence in the airline industry has seeped into the boardroom of PAL Holdings, Inc. as two children of bilyonaryo Lucio Tan have suddenly quit as directors less than a year in their posts.
Lucio Tan admits PAL on course for crash landing even after infusing P16B in last 5 months
Bilyonaryo Lucio Tan admits Philippine Airlines is on the verge of bankruptcy even after pumping in P16 billion in cash into the company which has lost P18 billion in the last three years.
PAL, Cebu Pacific, AirAsia suspend all domestic flights from NAIA starting March 15
Local airlines announced the cancellation of all domestic flights to and from the Ninoy Aquino International Airport (NAIA) from March 15 to April 14 in compliance with the government’s directive.
