Philippine Airlines

Philippine Airlines to pay $117 million aviation fees

Flag carrier Philippine Airlines said Friday it will pay the government six billion pesos (117 million dollars) after President Rodrigo Duterte threatened to cut off its access to Manila airport over alleged unpaid landing and other fees.Duterte had given the airline a Friday deadline to pay arrears."The (Department of Transportation) has accepted the offer of PAL to pay in full the six billion-peso claims of the (Civil Aviation Authority of the Philippines/Manila International Airport A

7 October 2017
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Philippine stock gains from grounded jets, in-flight food

Grounded planes are helping a Philippine stock fly.Behind the five-fold increase in MacroAsia shares this year is a venture’s expanded jet service and maintenance business. The company is the top performer among the 274 equities listed on the Philippine Stock Exchange, with its market value approaching 300 million dollars.

14 September 2017
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Tycoon Tan prioritises the turnaround of Philippine Airlines

Billionaire Lucio Tan said he plans to return his group’s Philippine Airlines to profit before selling a stake, two weeks after the carrier’s president said talks with a strategic investor were likely to produce a deal by the end of this year.PAL Holdings, the carrier’s parent, booked a net loss of 501 million pesos (9.8 million dollars) in the second quarter after reporting a 1.13 billion peso deficit in the previous quarter as higher fuel costs and aircraft lease charges boosted expenses.

12 September 2017
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