Philippine Airlines Inc. (PAL) has emerged from its voluntary Chapter 11 proceedings as “a more efficient airline with a strengthened balance sheet, reaffirming its continuing role as the Philippines’ sole full-service airline with the largest international network”. PAL successfully completed its financial restructuring within four months. The Philippine flag carrier credits the strong support of its creditors and shareholders, the cooperation of its industry partners and the collective efforts of PAL employees around the world who sustained flights on multiple international and domestic routes throughout the restructuring period. PAL has streamlined operations with a reorganized fleet and states that it

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