Philippine Airlines (PAL) has said there is no certainty its business restructuring process will end by 2021, noting that a variety of factors will affect the timeline.
The carrier was responding to a news report by the Manila Bulletin, which cites PAL president and chief operating officer Gilbert Santa Maria as saying that the embattled carrier will exit restructuring by this year.
Santa Maria was speaking at a press briefing, days after the carrier filed for bankruptcy under Chapter 11 in New York, a move that had been long anticipated.
Only an asteroid hitting Manhattan can stop us from exiting Chapter 11 this year, he was quoted as saying.
The carrier, in a 7 September stock exchange filing, says Santa Maria was expressing a sta…
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