Philippine Airlines’ profit soars
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“It confirms that we are now restructured to achieve sustained profitability and validates our decision to exit receivership
as soon as possible,” said PAL president Jaime J. Bautista.
The flag carrier is in the process of securing Securities and Exchange Commission (SEC) approval, expected before yearend, to move out of a receivership programme it entered in 1998. The following year, the SEC approved a rehabilitation plan that has guided the airline’s operations ever since.
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