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Philippine Airlines monitoring Japan Airlines’ strategies regarding its bankuptcy issues

19-Jan-2010 11:00 AM

Philippine Airlines is reportedly monitoring Japan Airlines’ strategies regarding its bankruptcy issues, and the sharemarket’s reactions, after the Philippine carrier reported a USD304.4 million net loss in the 12 months ended 31-Mar-2009 (Aircargo Asia Pacific, 18-Jan-2010). PAL reportedly stated staff are unlikely to accept proposed pay cuts to reduce operating costs.