Philippine Airlines' (PAL) losses quadrupled to 2.2 billion pesos ($50.2 million) in the first three months of the year ending June, compared to the 1997 first quarter. A 22-day pilot strike, foreign exchange losses and higher interest charges all contributed to the loss. The airline says it will shortly unveil its rehabilitation plan. PAL has increased the planned size of its reduced fleet from 15 aircraft to between 21 and 25. All 10 AFT-leased Fokker 50 turboprops in its fleet are targeted for disposal.
Source: Flight International