MANILA, Philippines — The country’s flag carrier, Philippine Airlines, assures that it will continue to fly and to serve its customers as the company undergoes financial restructuring.
“We will continue to fly and to serve our customers throughout this process: it is business as usual for us,” PAL said in a statement released on Sunday (Sept. 5).
“PAL continues to increase domestic and international flights as travel demand recovers with the easing of travel restrictions, and we will roll out new products and services that help make flying safer and more convenient,” the statement added.
PAL further assures that its highest priority is the safety and health of its passengers, its employees, and the communities it serves.
“Nothing about that will change as we undergo restructuring,” it said.
On September 3, Philippine Airlines announced the voluntary decision to undergo financial restructuring under the U.S. Chapter 11 process.
Chapter 11 is a globally recognized U.S. legal process that many airlines have used to reinvent themselves into more successful companies.
“This step is part of a set of major agreements PAL has reached with substantially all of our stakeholders, and with one objective: to build a stronger Philippine Airlines so that we can serve our customers better and continue our mission as a full-service airline and flag carrier of the Philippines,” the airline company said.
The restructuring will enable PAL to emerge with fresh capital, lower debt, and a sturdier financial foundation for the future.
PAL also expressed its gratitude to the public for its support for the company’s recovery and revival.
“After 80 years of flying the Philippine flag, we recognize that our nation will look up to PAL to sustain the links and connections that unite our island country and bring life to our communities and economy,” it said.
“We pledge to work harder to earn your continuing support, to deliver buong pusong alaga (whole-hearted care) and provide a beacon of hope to Filipinos and travelers from all over the world,” it further stated.