PAL emerges from Chapter 11 bankruptcy proceedings ABS-CBN NewsUpdated as of Jan 03 11:39 AM PAL Holdings Inc said Monday Philippine Airlines has completed its voluntary Chapter 11 proceedings with a "strengthened" balance sheet as it reaffirms its commitment to operate as a full service airline. Read more »
US court OKs PAL recovery plan after bankruptcy filing ABS-CBN NewsPosted at Dec 18 11:18 AM In a statement, PAL said this would allow them to move forward with their Chapter 11 process that they filed in September. Read more »
SSS to let members, employers settle dues sans penalties Jasmin Romero, ABS-CBN NewsPosted at Nov 04 03:50 PM Amid the economic disruptions of the pandemic, SSS said it observed a decline in payments in 2020. Read more »
PAL secures US court nod to access $505 million financing ABS-CBN NewsPosted at Oct 01 05:11 PM Philippine Airlines has received a US court approval to access $505 million in debtor-in-possession financing, it said said Friday. Read more »
PAL says 'business as usual' after Chapter 11 ABS-CBN NewsPosted at Sep 06 02:37 PM PAL, Asia’s oldest airline, said it is business as usual for the company's employees, customers, suppliers, commercial partners, and local communities. Read more »
PAL announces restructuring amid pandemic impact Job Manahan, ABS-CBN NewsPosted at Sep 04 12:27 PM The Philippine Airlines (PAL) on Saturday announced its financial restructuring plan under the US bankruptcy code's Chapter 11. Read more »
Creditors can't sue AirAsia X for another 9 months, says Malaysia court ReutersPosted at Jun 18 03:03 PM The Malaysian high court has granted AirAsia X Bhd a nine-month extension on a restraining order which prevents creditors from filing any legal proceedings against it, the airline said in a stock exchange filing. Read more »
PAL operator incurs P73 billion loss in 2020, airline to undergo restructuring ABS-CBN NewsUpdated as of Jun 17 11:44 AM Philippine Airlines Holdings Inc said Thursday it incurred a net comprehensive loss of P73 billion for the year 2020 reflecting the “extraordinary impact” of the COVID-19 pandemic on operations of subsidiary Philippine Airlines. Read more »
Malaysia's AirAsia X gets shareholder go-ahead for restructuring plan Liz Lee, ReutersPosted at Jun 02 11:13 AM AirAsia X Bhd shareholders have approved the Malaysian budget airline's debt restructuring, it said on Tuesday, allowing it to pursue a scheme it viewed as key to survival. Read more »
Alok ng Pag-IBIG: loan restructuring, pagpapaliban ng dagdag-kontribusyon ABS-CBN NewsUpdated as of Nov 30 02:53 PM Umaapela ang Pag-IBIG sa mga nag-housing loan na di nakakabayad: mag-apply ng housing loan restructuring program. Read more »
Lufthansa warns of further restructuring costs in Q4 ReutersPosted at Nov 05 03:03 PM Lufthansa on Thursday said it booked a net loss of 2 billion euros ($2.35 billion) in the third quarter due to the pandemic-related slump in travelling and said further restructuring measures would weigh on fourth-quarter figures. Read more »
AIG names new CEO, breaks up its insurance business Agence France-PressePosted at Oct 27 08:42 AM Global insurer AIG announced a multi-part shake up on Monday, naming a new CEO and splitting its business in two. Read more »
Cathay Pacific to cut 5,900 jobs, end Cathay Dragon brand due to pandemic Jaime Freed, ReutersPosted at Oct 21 08:28 AM Hong Kong's Cathay Pacific Airways Ltd said on Wednesday it would cut 5,900 jobs and end its regional Cathay Dragon brand as it grapples with a plunge in demand from the coronavirus pandemic. Read more »
Malaysia Airlines boss says will have to shut down if restructuring plan fails Joseph Sipalan and Anshuman Daga, ReutersPosted at Oct 12 09:36 AM Malaysia Airlines will have to shut down if its lessors decide not to back its latest restructuring plan, the chief executive of the airline's parent group was quoted as saying on Saturday. Read more »
Pag-IBIG itinutulak ang special housing loan restructuring program sa gitna ng pandemya ABS-CBN NewsPosted at Sep 25 12:30 PM MAYNILA— Itutulak ng Pag-IBIG Fund sa board nito Biyernes na maaprubahan ang special housing loan restructuring program para maibsan ang hirap ng mga borrower nito dala ng COVID-19 pandemic. Read more »
Pag-IBIG may 'loan restructuring' para sa mga miyembrong sapul ng pandemya ABS-CBN NewsPosted at Sep 24 06:41 PM Mag-aalok ng 'special loan restructuring' ang Pag-IBIG sa mga hindi nakakabayad dahil sa COVID-19 pandemic. Read more »
Heavily indebted Thai Airways gets court nod for restructuring Agence France-PressePosted at Sep 14 03:18 PM A Thailand court on Monday approved the restructuring of Thai Airways, which is billions of dollars in debt and struggling to survive the coronavirus tourism crash. Read more »
Lufthansa reports net loss of 2.1 billion euros in Q1 Agence France-PressePosted at Jun 03 02:52 PM German airline giant Lufthansa said Wednesday it will undergo "far-reaching" restructuring as it posted a first-quarter net loss of 2.1 billion euros ($2.3 billion) on Wednesday, hammered by the coronavirus pandemic. Read more »
Virus-stricken Thai Airways goes to bankruptcy court Agence France-PressePosted at May 21 08:19 AM Thailand's cash-strapped national carrier will look to undergo a restructuring through the kingdom's bankruptcy court, premier Prayut Chan-O-Cha said Tuesday, as the stricken company is battered by the crash in tourism caused by the coronavirus. Read more »
Bankers and lawyers prepare for spate of company rescues as coronavirus bites Abhinav Ramnarayan and Karin Strohecker, ReutersPosted at Mar 17 10:47 PM Law firms and banks are scrambling to retrain senior staff in restructuring so they can help dozens of companies looking to raise emergency funds and rearrange debts as the coronavirus pandemic eats into corporate cash. Read more »