Today
Sunday, December 13, 1998
President Estrada has pledged to save ailing Philippine Airlines “at all costs,” pointing out that too much is at stake because the airline is a vital component of Philippine commerce and industry.
“You know, it is a must for the President to save PAL because if PAL closes down, all business here in the country will be affected,” he said. “At all costs, we will save PAL.”
But he would leave it to PAL management as to which strategic partner to take in.
Two interested foreign airlines – Northwest and Cathay Pacific – have withdrawn from talks with PAL. But Estrada said “we are not losing hope.”
The President noted that PAL according to its executives, is losing P21 million a day. He conceded that the airline suffers from overstaffing and from the “open skies” policy adopted by the previous administration.
Last week, PAL submitted to the receivership committee a stand-alone rehabilitation program that its management believes will allow the airline to become viable again. R. Mercene
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