PAL losses

Philippine Airlines (PAL) is projecting two more years of losses The airline has already accumulated losses of 10.7 billion peso ($407 million) over the last 12 years and does not now expect to break even until 1999, according to PAL president Antonio Garcia. The announcement followed a three-day strike in early November, which virtually shut-down the carrier's international domestic operations. Meanwhile, PAL has signed a code-share agreement with American Airlines.

Source: Flight International