Philippine Airlines planning court protection for debt restructuring

The loss-making flag carrier informed the ministry of its plans last week

  
A Philippine Airlines passenger jet is pictured at the tarmac of Terminal 3 at the Ninoy Aquino International aiport in Pasay city, Metro Manila Philippines April 1, 2016.

A Philippine Airlines passenger jet is pictured at the tarmac of Terminal 3 at the Ninoy Aquino International aiport in Pasay city, Metro Manila Philippines April 1, 2016.

REUTERS/Erik De Castro

MANILA: Philippine Airlines plans to seek court protection as it pursues debt restructuring with the help of the government, the country's finance minister said on Wednesday.

The loss-making flag carrier informed the ministry of its plans last week, but gave no details on any assistance needed from the government, the minister, Carlos Dominguez, told reporters.

Philippine Airlines, whose operations were hit hard by the coronavirus pandemic, did not immediately respond to request for comment.

(Reporting by Neil Jerome Morales; Editing by Martin Petty) ((neiljerome.morales@thomsonreuters.com; +632 8841 8914;))

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