Flag carrier Philippines Airlines (PAL) is working on a comprehensive restructuring plan to recover from the severe impact of the pandemic.
PAL said the strategy will enable the company to emerge financially stronger from the current global crisis.
“PAL is considering all options available to it, including a comprehensive restructuring plan that will ensure its viability, and support the Chairman’s commitment to continue its operations. As of the moment, there is no definite option that has been officially approved,” PAL said in a disclosure to the Philippine Stock Exchange.
The airline assured that its flights will not be affected in the restructuring.
“We continue to increase our international and domestic flights as the market recovers with easing of travel restrictions. We continue to operate repatriation flights and transport COVID-19 vaccines to and throughout the Philippines, as part of the global effort to combat the pandemic,” PAL said.
Cielo Villaluna, PAL spokesperson, said PAL’s passenger flight frequencies per day is approximately only 30 percent of pre-pandemic levels.
The lower number of flights is attributed to current travel restrictions and passenger arrivals caps.
PAL said it continues to operate all-cargo flights which have been serving as additional sources of revenue.
Under current government quarantine restrictions, non-essential domestic travel to and from Manila is not allowed until May 14.
With this, PAL is set to operate in 39 domestic destinations this month. – Myla Iglesias
