MANILA, Philippines – Flag carrier Philippine Airlines (PAL) is mulling deep job cuts across the board in a bid to survive the COVID-19 pandemic while it waits for government support that has been
PAL is looking at more drastic measures to reduce costs as demand remains weak and travel restrictions in the country and overseas continue six months since the Philippine government imposed strict lockdown measures.
Inquirer sources with knowledge of the matter said employees were informed of the planned retrenchment and voluntary retirement program during a town hall meeting last Wednesday. PAL employees understood these steps were being taken to ensure the survival of the flag carrier, which became the first commercial airline in Asia when it started flights in 1941.
As early as March, Acap reached out to administration officials and lawmakers for assistance, calling the COVID-19 pandemic an “existential threat” to the industry. Because of the pandemic, PAL said losses from January to June breached P20 billion versus a P3.3 billion loss in the first half of 2019.Backed by partner ANA Holdings of Japan, which took a 9.5 percent stake in the group last year, PAL was hoping to launch new routes and expand market share under a management team led by president Gilbert Santa Maria.
Despite the crisis, PAL carried out crucial flights, mainly to serve stranded Filipinos in the Philippines and overseas.
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