Philippine Airlines Says It’s Readying Restructuring Plan

Philippine Airlines Inc. is working on a “comprehensive recovery and restructuring plan,” according to the carrier owned by billionaire Lucio Tan. The plan will enable it to “emerge financially stronger” from the global crisis, it said in a statement. Asia’s oldest airline didn’t provide details of the plan, but said it is gradually increasing flights. The pandemic has devastated the global travel industry, forcing airlines to suspend flights, lay off employees and seek financial help from… (www.msn.com) More...