Another airline restructuring
Other airlines announced the need to restructure.
Philippine Airlines has announced its intention to file for bankruptcy in the United States. In accordance with the Bankruptcy Code in force there, submitting such an application gives a real chance to carry out a restructuring procedure, under which the following are planned: reduction of the fleet, reduction of debts and obtaining financial resources.
It is worth recalling that this is not the first airline to undergo restructuring. We wrote about other cases of this type, incl. here.