PAL exits US bankruptcy, after US court OKs reorganization plan

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 obtain additional capital.

The national carrier of the Philippines had filed for bankruptcy in the United States in September, seeking 

from creditors as it tried to survive the devastation unleashed on the airline industry by the coronavirus pandemic.

Its court-approved reorganization plan includes a $2 billion debt reduction and additional liquidity of $505 million from its main shareholder, PAL said in a statement Friday.

It also has the option to obtain up to $150 million in additional financing from new investors.

"PAL has streamlined operations with a reorganized fleet and is now better capitalized for future growth," the airline added.

Air travel in the Philippines collapsed by more than 75 percent in 2020 due to travel restrictions imposed to contain the coronavirus, according to government data.

From 60 million domestic and international passengers in 2019, traffic plunged to just over 13 million in 2020.

PAL said in September it had cancelled more than 80,000 flights, wiping out $2 billion in revenue, and let go of more than 2,000 employees.

As borders reopen and travel restrictions ease, the airline said it will resume regular flights, including to cities in mainland China and Australia.

Agence France-Presse

PAL London flights showcase of PH pride at WTM

The return of Philippine Airlines (PAL) to London starting November 4 will be the centerpiece of the country’s participation at the World Travel Market (WTM), the biggest global event for the travel industry which opens on the same day PAL arrives at the British capital.

The resumption of non-stop flights to the United Kingdom will serve as the main focus of tourism promotions by the Philippines under the Department of Tourism’s (DoT) “It’s More Fun in the Philippines” campaign at this year’s WTM to be held from Nov. 4 to 7.

PAL will share the 300-square-meter Philippine pavilion with 40 other Philippine exhibitors, including the DoT, at WTM 2013 where almost 5,000 exhibitors from 184 countries are expected to generate more than GBP1,859 million in travel industry deals.

According to Susan del Mundo of DoT’s Tourism Promotions Board, “This is the biggest Philippine participation since joining WTM back in 1980 or any travel fair worldwide. A total of 90 DoT officials led by Sec. Ramon Jimenez will be at WTM.”

Buyers and sellers from every sector of the travel industry around the world converge at WTM, London’s biggest annual travel event attracting more than 47,000 global travel professionals.

PAL President Ramon S. Ang said: “In the first six months of 2013 alone, we had more than 60,000 arrivals from Britain.  This elevated the UK to the Philippines’ top ten visitor markets for the first time – the only European nation on the list. With PAL’s new non-stop flights, we are sure those numbers will increase further.”

The DoT had predicted a 65% increase in European visitors to about 575,000 this year alone and the doubling of current arrivals to around 700,000 in the coming year.

“It is not just tourists who stand to benefit but more importantly our 664,000 Filipino *kababayans* in Europe, particularly the 250,000 living in the U.K., who will now be able to return home more often via the airline that knows them best,” Mr. Ang said.

He will lead a delegation of top PAL and government officials on the inaugural flight including the British Ambassador to the Philippines Asif Ahmad. Upon arrival at London’s Heathrow airport in the afternoon of Nov. 4, Philippine Ambassador to the UK Enrique Manalo will be welcoming the inaugural flight passengers.

From the airport, some PAL executives will proceed to the PAL booth at WTM.

The five-times-a-week service to London will use PAL’s Boeing 777-300ER aircraft which features one of the most spacious cabin equipped with modern inflight amenities.

source: lifestyle.inquirer.net

PAL Promo

MANILA, Philippines — Philippine Airlines (PAL) Thursday celebrated its 71st anniversary with the launch of a series of surprises, including a new set of low-fare promo.

The anniversary promo offers tickets as low as P77 on domestic routes, $7 on regional destinations, and $277 on international flights.

Passengers buying regular fare tickets from March 15 to 21, 2012, are eligible to buy a second ticket at these low rates.

Business class tickets have also been slashed – as low as P3,777 for domestic, $377 for regional, and $1,177 for international tickets.

Holders of the discounted tickets still get to enjoy PAL's full-service amenities – free check-in baggage, more legroom, newspapers, and free snacks/meals onboard.

The limited, discounted domestic fares are for one-way, while the regional and international fares are round-trip. All discounted fares are exclusive of government taxes, fees, and surcharges.

Tickets may be bought at any PAL ticket office, the PAL website, or any accredited travel agent.

Information on selling and travel period as well as other details and conditions may be found at the PAL website – philippineairlines.com.

The anniversary ticket promo serves as the initial salvo of other exciting surprises lined up in the coming weeks and months by Asia's first and the country's pioneer flag carrier.

source: mb.com.ph

David Archuleta flies in for local TV drama series

MANILA, Philippines—“American Idol” 2008 finalist David Archuleta arrived in Manila Friday morning.

According to Manila International Airport Authority’s media affairs division, Archuleta flew into the Ninoy Aquino International Airport on a Philippine Airlines flight from Los Angeles around 6 am.

A handful of fans welcomed him at the airport.

Archuleta, who was recently added to the roster of stars of the Kapatid network, or TV 5, will reportedly be putting down the mic for a while to try his hands at acting in a prime-time series.

source: http://entertainment.inquirer.net/27005/david-archuleta-flies-in-for-local-tv-drama-series