QUEZON CITY (PIA) – The Philippine government has waived landing and aerodrome charges to ensure that the Philippine Airlines (PAL) will continue transporting vaccines and flying Overseas Filipino Workers (OFWs) in and out of the country, said Presidential Spokesperson Harry Roque in the press briefing on Monday, September 6.

The flag carrier filed for bankruptcy due to a leaner fleet and fewer destinations to curb the pandemic.

To recover from their losses before the end of the year, PAL begun its financial restructuring process with agreement from its stakeholders, Roque said.

"Doon sa rehabilitation plan ng PAL mayroon silang exit financing na mga 150 million dollars. Ngayon po ang mga nagpapautang ay mga dayuhang financial institution, (In the rehabilitation plan of PAL, they have exit financing amounting to $150 million from foreign financial institutions)," he said.

Further, he said that the Landbank and Development Bank of the Philippines (DBP) might also provide the needed debt financing.

"By the time kasi magkaroon ng exit financing, hindi na po insolvent ang PAL so they can already avail of loans from our Government Financial Offices," Roque said.

He said no further employee retrenchments are expected after reducing its workforce by 2,300 before PAL filed for bankruptcy. (ARR/PIA-IDPD)

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