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Philippine Airlines Receives US$505m under Chapter 11

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MIAMI – The US Bankruptcy Court has granted Philippine Airlines (PR) permission to access US$505m in debtor-in-possession (DIP) funding. The funding will allow the airline to continue operating while it restructures its US$2bn debt in the United States through the Chapter 11 bankruptcy protection process. According to aerotime.aero, in addition to DIP financing approval, the […]

The post Philippine Airlines Receives US$505m under Chapter 11 appeared first on Airways Magazine.

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