Air Transport World

Philippine Airlines.(Brief Article)(Statistical Data Included)

Philippine Airlines managed to raise the $200 million it needed to keep flying. The money is a mixture of funds from a group of companies owned by PAL's owner, Lucio Tan, and two Hong Kong companies that reportedly have links to Tan. Senior sources at PAL and its in-house management consultancy Regent Star have been quoted as saying that there is still a great deal of work to do: "The $200 million gives us the breathing space we need so we can concentrate on returning PAL to financial viability. …

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