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Philippine Airlines files for bankruptcy

15 Comments

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How did this happen!

3 ( +3 / -0 )

Reckless.....

How did this happen!

I know you are being sarcastic but...."PAL now operates 21 percent of pre-pandemic flights to 70 percent of its usual destinations." That's got to hurt the bottom line!

7 ( +7 / -0 )

Philippine Airlines is skint

0 ( +1 / -1 )

"Another one bites the dust."

2 ( +3 / -1 )

What does Duterte have to say about this?

3 ( +3 / -0 )

The worst airline i have ever flown with

2 ( +3 / -1 )

Worse than United????

5 ( +7 / -2 )

It put a huge damper on the Balut food service business. The airline had great food.

1 ( +1 / -0 )

What does Duterte have to say about this?

Puta ng ina %$&*$!!@&?+!

2 ( +2 / -0 )

The only airline to upgrade me to business, rip

2 ( +2 / -0 )

Furst of many Covid policy casualties

-1 ( +0 / -1 )

Well, better than a bailout. Air travel is not coming back to the same level for years.

2 ( +2 / -0 )

Good point. If you fly international now you havr a complete row to yourself. How long can it last?

0 ( +0 / -0 )

A good airline, with fabulous service by charming and attentive air hosts/hostesses. The biggest problem was Manila Intl. Airport. Perhaps the worst airport I have ever been to in my life. Transiting is a nightmare. Immigration processing even worse. General lack of air conditioning, sanitation, transport between terminals is non existent. Used it once, never again!

1 ( +1 / -0 )

It's Chapter 11 Bankruptcy, not Chapter 7

Here's the difference:

https://www.diffen.com/difference/Chapter_11_Bankruptcy_vs_Chapter_7_Bankruptcy

There are 4 types of bankruptcy filings in the Federal Bankruptcy Code (Title 11 of the United States Code):

Chapter 7 - Liquidation

Chapter 11 - Reorganization (or Rehabilitation bankruptcy)

Chapter 12 - Adjustment of Debts of a Family Farmer with Regular Annual Income

Chapter 13 - Adjustment of Debts of an Individual with Regular Income

The main difference between Chapter 7 and Chapter 11 bankruptcy is that under a Chapter 7 bankruptcy filing, the debtor's assets are sold off to pay the lenders (creditors) whereas in Chapter 11, the debtor negotiates with creditors to alter the terms of the loan without having to liquidate (sell off) assets.

0 ( +0 / -0 )

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