✈️ New Chapter 11 Bankruptcy Filing – Philippine Airlines, Inc.✈️
Earlier this month, Philippine Airlines Inc. (the “debtor”) filed for chapter 11 in the Southern District of New York. As of July 31, 2021, the debtor’s assets and liabilities were $4.1b and $6.07b, respectively.
The debtor is headquartered in the City of Pasay in the Philippines, and it is one of the oldest commercial airlines in Asia. Its pre-pandemic …