Pal Finical Stability?

[Old55]

I have never flown PAL internationally.Philippine Airlines started making money this quarter after some big losses the past few years. Now traffic is up and they recently sold off unprofitable holdings. But they have ongoing labor problems and debt, a lot of debt. In 2012 and again in 2013 they will take delivery of two 777’s the down payment for one 777 is about $30,000,000.00 USD. The new aircraft will provide income but will add even more debt if they can get the loans.Tan has been talking to the crocodiles for some time now asking for a handout-bailout. I see a restructuring or FAIL coming.

[Jake]

I have never flown PAL internationally.Philippine Airlines started making money this quarter after some big losses the past few years. Now traffic is up and they recently sold off unprofitable holdings. But they have ongoing labor problems and debt, a lot of debt. In 2012 and again in 2013 they will take delivery of two 777’s the down payment for one 777 is about $30,000,000.00 USD. The new aircraft will provide income but will add even more debt if they can get the loans.Tan has been talking to the crocodiles for some time now asking for a handout-bailout. I see a restructuring or FAIL coming.

In the most recent labor dispute where veteran pilots went to other cockpits with more pay and benefits,maybe the upper crust management of both government and PAL should take a dive without a parachute. If they get fired, they will probably cry all the way to their private yachts with their severance and bonuspackage worth in the millions. Check out this article: (notice the date?)Filipino Express 10-04-1998Packed and ready to go: Philippine Airlines prepares to close down business. Debt-laden Philippine Airlines began winding up its business Sept. 24, as the government struggled to fill the void in air services left by its closure. Asia's oldest airline closed at midnight Wednesday after last-minute negotiations failed to persuade its largest union to accept a recovery plan. U.S. authorities, mean-while, seized a Philippine Airlines plane in Los Angeles to pay off some of the national flag-carrier's debt, an airline official said Sept. 24. The Boeing 747-400 plane was the last PAL plane to leave Manila …Respectfully -- Jake

[Old55]

1998... Wow, very interesting. So Tan is just making a move for more $$$. Again! That clever so and so!!

I have never flown PAL internationally.Philippine Airlines started making money this quarter after some big losses the past few years. Now traffic is up and they recently sold off unprofitable holdings. But they have ongoing labor problems and debt, a lot of debt. In 2012 and again in 2013 they will take delivery of two 777’s the down payment for one 777 is about $30,000,000.00 USD. The new aircraft will provide income but will add even more debt if they can get the loans.Tan has been talking to the crocodiles for some time now asking for a handout-bailout. I see a restructuring or FAIL coming.

In the most recent labor dispute where veteran pilots went to other cockpits with more pay and benefits,maybe the upper crust management of both government and PAL should take a dive without a parachute. If they get fired, they will probably cry all the way to their private yachts with their severance and bonuspackage worth in the millions. Check out this article: (notice the date?)Filipino Express 10-04-1998Packed and ready to go: Philippine Airlines prepares to close down business. Debt-laden Philippine Airlines began winding up its business Sept. 24, as the government struggled to fill the void in air services left by its closure. Asia's oldest airline closed at midnight Wednesday after last-minute negotiations failed to persuade its largest union to accept a recovery plan. U.S. authorities, mean-while, seized a Philippine Airlines plane in Los Angeles to pay off some of the national flag-carrier's debt, an airline official said Sept. 24. The Boeing 747-400 plane was the last PAL plane to leave Manila …Respectfully -- Jake

[Mr Lee]

We used to use PAL exclusively but they did not believe in taking care of their yearly customer and only take care of their customers who fly 25,000 miles within a 12 month period rather than people such as my wife and I who flew with them yearly as well as within country. I sent them a number of emails with suggestions such as letting the miles expire but not a persons mileage standing but I got the feeling that they did not wish to cater to anyone who was not Filipino, so we no longer fly with them and it is their loss and not ours because it almost always costs us less to fly with Korean Airlines, yet hurts me that we cannot spend our money with an airline who hires mostly Filipinos. IMO the people who run PAL are very poor business people and deserve what they are now suffering and while I do not feel sorry for the company, I do feel sorry for the employees.