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PAL Holdings, Inc.
...buti nagbayad na sila ng utang sa government Tongue

PAL to mount nonstop flights to Toronto in Dec.

PHILIPPINE AIRLINES (PAL) is set to mount nonstop flights from Manila to Toronto, Canada in December, as it prepares to open more international routes in the coming year.

In a statement, the flag carrier said the nonstop, thrice-a-week flights between Manila and Toronto will begin on Dec. 16. The flights will use Boeing 777 planes, with travel time of 14.4 hours.

PAL also said it will start operating a non-stop, thrice weekly flight on the Manila-Auckland route on Dec. 6. This will reduce the travel time from 13.6 hours to 10 hours. At present, PAL operates flights to New Zealand with a stopover in Cairns, Australia.

The airline said the delivery of two more Boeing 777-300s next month and two Airbus A350-900s within the first half of 2018 will allow it to increase non-stop frequencies between Manila and the US West Coast, as well as a non-stop Manila-New York flight.

“In the meantime, PAL will be introducing into service the long-range version of the Airbus A321 NEOs, which will enable the flag carrier to open new nonstop routes such as Manila-Brisbane and Manila-New Delhi,” PAL said.

The flag carrier will also open new routes from its Cebu and Clark hubs. Starting Dec. 1, PAL will use the Bombardier Q400 Next Generation turboprops for its new routes: Cebu-Siargao, Cebu-Camiguin, Cebu-Ozamiz and Cebu-Legaspi.

Also on Dec. 1, PAL will launch flights from Clark to Legaspi, Masbate, Calbayog and Catarman. On Dec. 15, it will open routes from Clark to Bacolod and Tagbilaran.

Flights from Clark to Cagayan de Oro and Virac flights will be launched on Dec. 16 and 10, respectively.

On Jan. 15, 2018, PAL said it will mount flights from Clark to Naga and Legaspi.

“The new domestic operations — which will help relieve NAIA (Ninoy Aquino International Airport) congestion — will enable travelers from the country’s regions to reach Central Luzon without having to touch down in NAIA and travel by land from Manila,” the airline said.

PAL is aiming to carry between 16.5 million to 17 million passengers next year. It is targeting to ferry 20 million passengers by 2021.


source: http://bworldonline.com/pal-mount-nonsto...ronto-dec/
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SEC clears PAL equity restructuring

Flag carrier Philippine Airlines (PAL) has obtained the go-signal of the Securities and Exchange Commission (SEC) to undergo equity restructuring to eliminate its deficit as of last year.

In a disclosure to the Philippine Stock Exchange yesterday, PAL Holdings Inc. said “the request to undergo equity restructuring by the corporation’s subsidiary, PAL, has been granted by the SEC in a Certificate of Approval of Equity Restructuring dated Dec. 13, 2017.”

Following the approval, PAL would use its additional paid-in capital of P13.64 billion to fully wipe off its deficit of P13.57 billion as of Dec. 31 last year.

Earlier, PAL said the move to eliminate the deficit accumulated from losses incurred in the past would allow the carrier to declare dividends and attract investors.

PAL president and chief operating officer Jaime Bautista said the carrier is hopeful it could complete a deal with a strategic investor by next year.

He said PAL would benefit from having a strategic investor in terms of contribution in equity, management, route development, or possible membership in an alliance.

A strategic investor would also make it easier for PAL to obtain a five-star rating by 2020.

PAL currently has a three-star rating from Skytrax, an aviation consultancy firm from the United Kingdom.

PAL is adding new routes, expanding its fleet and innovating products and services to become a certified four-star airline by next year.


source: http://www.philstar.com/business/2017/12...tructuring
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Nonstop Manila-Toronto flights to give PAL an advantage — CAPA

LAUNCHING of direct Manila-Toronto flights gives Philippine Airlines (PAL) a competitive advantage, an aviation market intelligence provider said.

Flag carrier Philippine Airlines launched this month its direct Manila-Toronto flights, replacing previous flights operated via Vancouver. Its return flight was the first ultra-long polar flight from Toronto nonstop to Manila, the first crossing of the Polar region by a Filipino airline.

“By introducing a nonstop option in the Toronto-Manila market, PAL has gained a competitive advantage over the nine airlines that offer a one-stop product. Several of these airlines offered similar, or shorter, total transit times than PAL before PAL introduced a nonstop service,” CAPA-Centre for Aviation said on its Web site.

For the Manila-Toronto flight, PAL used a Boeing 777-300ER that crossed Canada, Greenland, the Arctic Circle, Russia, Mongolia and parts of China.

The Manila-Toronto route is now one of the 20 longest routes in the world, with a block time of 16 hours and 30 minutes on the westbound leg, and 14 hours and 40 minutes on the eastbound leg. The nonstop flight is 4.5 hours shorter than PAL’s previous one-stop service, which had a total transit time of 21 hours on the westbound sector.

Other airlines which offer the Manila-Toronto route are Cathay Pacific Airways Limited (via Hong Kong), and China Eastern Airlines Corporation Limited (via Shanghai).

PAL plans to follow up with another polar crossing service on a longer nonstop route, over 17 hours, within the second half of 2018, from Manila to New York (JFK Airport) and from New York to Manila, using the A350.


source: http://bworldonline.com/nonstop-manila-t...tage-capa/
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...flight rationalization, ok yan Smile

PAL halts flights from Kalibo to Guangzhou

 Flag carrier Philippine Airlines (PAL) will no longer operate the Kalibo-Guangzhou route starting Jan.1, as part of the restructuring of the flight network in the region. 

In a statement, PAL said it will cease PR 380/381 on the Kalibo-Guangzhou-Kalibo route effective Jan. 1.

PAL spokesperson Cielo Villaluna said the move is part of the carrier’s route rationalization.

While PAL will stop operating the route, it will mount an additional Manila-Guangzhou flight every Saturday effective Feb. 1.

“In consideration of the current market conditions, this additional Manila-Guangzhou operation will ensure that efficient air transport services are continuously provided between points in the Philippines and Guangzhou,” PAL said. 

PAL will also continue to expand services in different cities in China as it looks to encourage more tourists and business travel with the Philippines. 

In particular, it is looking to expand services in the cities of Beijing, Shanghai, Quanzhou (Jinjiang), Chengdu, Xiamen and Guangzhou, with various Philippine destinations.

“What is important is, as we temporarily suspend certain routes, we find ways to boost existing routes,” Villaluna said. 

PAL earlier said it is looking to launch non-stop flights from Manila to Brisbane in Australia, New York in the US, as well as India in 2018.

In particular, PAL is targeting to launch the service to Brisbane in the first quarter, and to New York in the second semester.

 Affected passengers can call the PAL hotline  855 - 8888 for rebooking or refund.


source: http://www.philstar.com/business/2017/12...-guangzhou
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SEC approves PAL Holdings share swap

The Securities and Exchange Commission (SEC) has approved the share swap transaction of the parent firm of flag carrier Philippine Airlines (PAL) with another Lucio Tan controlled firm, Zuma Holdings and Management Corp.

In a disclosure to the Philippine Stock Exchange, PAL Holdings said it received the SEC certificate approving the valuation of shares for the share swap with Zuma.

In the certificate of approval of valuation dated Dec.21, 2017, the SEC said it approved the valuation of shares of stock in the amount of P8.24 billion to be applied as full payment for the additional issuance of 1.65 billion common shares with a par value of P1 per share.

“The request for Confirmation of Valuation of Shares was made in connection with the corporation’s share swap transaction with the shareholders of Zuma wherein the corporation agreed to issue 19 shares for every one Zuma share surrendered,” PAL Holdings said.

PAL Holdings is acquiring Zuma and subsidiary Air Philippines Corp. for P8.24 billion through the share swap deal.

Zuma is 60 percent owned by Cosmic Holdings Corp. and 40 percent owned by Horizon Global Investments.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1
Following the SEC approval of valuation, PAL Holdings will issue 1.65 billion shares from its authorized, but unissued capital stock in favor of Cosmic Holdings Corp. and Horizon Global Investments.

PAL Holdings’ acquisition of Zuma and integration of carriers PAL and Air Philippines are expected to result in streamlined processes, improved transportation experience for the riding public, as well as reduced costs and higher revenues.

Aside from the valuation for the share swap with Zuma, the SEC also approved the decrease in PAL Holdings’ authorized capital stock to P13.5 billion from P30 billion via a decrease in par value per share to P0.45 from P1

Earlier in December 2017, PAL also obtained the approval of the SEC for a request to undergo equity restructuring to eliminate its deficit as of Dec.31,2016.

The move to eliminate the deficit is expected to allow the carrier to declare dividends and get investors.

PAL president and chief operating officer Jaime Bautista had said the carrier hopes to seal a deal with a strategic investor this year.

A strategic investor would make it easier for PAL to achieve its goal of getting a five-star rating by 2020, as well as provide benefits in terms of the partner’s contribution in equity, management, route development, or possible membership in an alliance.

PAL has a three-star rating from aviation consultancy Skytrax, at present.

PAL Holdings is suspending the trading of shares Wednesday until Jan.9. as the transaction would affect the movement in the total stockholders’ equity.


source: http://www.philstar.com/business/2018/01...share-swap
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...hindi ko lang na-post ito

PAL flying to India, Brisbane, East Coast

Philippine Airlines said it will mount non-stop flights to Brisbane, Australia, India and the US East Coast via the polar route this year.

PAL, the flag carrier led by tycoon Lucio Tan, said it would deploy new Airbus A321 NEOs by February and A350s by June for these international flights. 

PAL said that on Dec. 15, a PAL 777 made the first trans-polar flight for a Philippine carrier – a 16.5-hour, non-stop Toronto-Manila flight – preceded by the upgrade of several routes from one-stop to non-stop in 2017: Manila-Doha, Manila-Auckland, Manila-Kuwait and Manila-Jeddah.

PAL received seven airplanes in 2017 including five Bombardier Q400 turboprops for inter-island flights and two Boeing 777-300ERs for long-haul routes.

PAL’s complete fleet of ten 777s now fly to North America and London. 

The airline also operated its first international flight to Clark with the arrival of an A321 from Seoul. Other new routes include Seoul-Tagbilaran, Chengdu-Kalibo, Chengdu-Cebu, Manila-Kuala Lumpur, Cebu-Beijing and Cebu-Bangkok.

PAL flies from Clark to Bacolod, Basco, Busuanga, Calbayog, Catarman, Cagayan de Oro, Caticlan, Cebu, Davao, Masbate, Puerto Princesa, Tagbilaran, Virac and Seoul. 

From Davao, PAL opened three new routes (Davao to Tagbilaran, Cagayan de Oro and Zamboanga) using the new Q400s.

Ten domestic routes were opened from Cebu – Siargao and Camiguin (new PAL destinations) as well as to Cagayan de Oro, Caticlan, Legazpi, Ozamiz, Puerto Princesa, Surigao, Tacloban and Tagbilaran.

PAL posted a net loss of P3.5 billion in January to September, a significant drop from the P2.96-billion total comprehensive income recognized in the same period in 2016.

Revenues in the nine-month period rose 15.6 percent to P98.63 billion from P85.35 billion a year earlier.


source: http://manilastandard.net/business/corpo...coast.html
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...naku, ok kaya ito?

PAL eyes 5-day trading halt

Flag carrier operator PAL Holdings Inc. has sought a five-day trading suspension at the Philippine Stock Exchange starting Wednesday pending disclosures on charter amendments approved by the Securities and Exchange Commission related to its capital restructuring.

The equity restructuring is aimed at cleaning up PAL Holdings’ balance sheet and pave the way for the entry of an investor group.

The requested voluntary trading suspension was set for Jan. 3 to 9 as the SEC issued certificates approving the following:

•a reduction in the authorized capital stock by changing the par value of shares from P0.45 to P1 per share.

•a decrease in capital stock from P30 billion divided into 30 billion shares with the par value of P1 each to P13.5 billion divided into 30 billion shares with the par value of P0.45 each.

•the valuation of P8.24 billion shares of stock will be applied as full payment for the additional issuance of around 1.65 billion common shares with a par value of P1 each with applied paid-in capital of P6.59 billion.

PAL Holdings has likewise obtained approval for the valuation of a proposed share-swap transaction with Zuma Holdings and Management Corp., wherein the former will issue 19 shares for every Zuma share surrendered.

Zuma owns 99.97 percent of Air Philippines Corp., an afffiliate that operates a portion of Philippine Airlines’ flights.

As a result, PAL Holdings will issue a total of 1.65 billion shares from its authorized but unissued capital in favor of other affiliates Cosmic Holdings Corp. and Horizon Global Investments Ltd. which respectively own 60 percent and 40 percent of Zuma.

To recall, the group of tycoon Lucio Tan has been consolidating the operations of Philippine Airlines under listed PAL Holdings Inc. as part of a streamlining program envisioned to upgrade the airline into a five-star carrier.

PAL, which is currently rated as a 3-star airline by airline and airport rating firm Skytrax, aims to obtain the highest rating of 5-star in four years.

The certified 5-star airline rating is the highest category quality ranking used by Skytrax to certify airline product and service standards. This status has so far been awarded to only nine airlines: Qatar Airways, Singapore Airlines, Cathay Pacific Airways, Asiana Airlines, Hainan Airlines, ANA All Nippon Airways, Garuda Indonesia, EVA Air and Etihad Airways. This rating recognizes the highest standards of airport and onboard product provided by an airline to customers, together with consistent and high standards of front-line staff service across the airport and onboard service environment.


source: http://business.inquirer.net/243435/pal-...ading-halt
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PAL to double chartered flights

Flag carrier Philippine Airlines (PAL) plans to double its chartered flights, driven by the growing number of Chinese visiting the country.

In a press briefing for the Philippine Travel Agencies Association’s 25th Travel and Tour Expo, PAL assistant vice president for passenger sales-Philippines Antonio Herrera said the flag carrier is in the process of adding chartered flights.

„We just started our chartered flights several years ago. It’s not big, but it’s growing,“ Herrera said.

Last year, PAL operated several scheduled chartered flights from China to Kalibo and other domestic destinations.

PAL also operated chartered flights from China to Puerto Princesa in Palawan and Bohol.

Herrera said PAL continues to receive interest for chartered flights from the Chinese market.

“China is very aggressive with chartered flights especially to Caticlan, to the Visayas region,” Herrera said.

The Philippines saw an influx of Chinese tourists in 2017, driven by the Visa Upon Arrival (VUA) option for Chinese Nationals as well as the improved diplomatic ties between the two countries.

From January to October 2017, Chinese arrivals reached 810,807, representing 14.81 percent of the total arrivals.

Tourism Secretary Wanda Corazon Teo earlier disclosed that several Chinese charter operators had expressed interest in mounting flights to the country.

Last September, the Department of Tourism inked an agreement with Chengdu-based charter operator Hanglv International Travel Group to further boost the route between mainland China and Manila.

Herrera said PAL is also open to accepting chartered flights from other countries to help promote tourism.


source: http://beta.philstar.com/business/2018/0...ed-flights
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...basahing mabuti ang news if you are a holder

PSE extends suspension on trading of PAL shares

THE Philippine Stock Exchange has approved PAL Holdings, Inc.’s request to extend its trading suspension until Jan. 11, to give the company more time to file the necessary disclosures in relation to its planned quasi-reorganization.

“The present request for extension of trading suspension is made in order to allow the company to make the necessary disclosures requested by the Exchange in relation to the number of the Corporation’s issued and outstanding shares resulting from the amendments of the par value of its shares and the issuance of new shares,” the company said.

The extended trading suspension will run from Jan. 10 to 11.

PAL Holdings, which operates flag-carrier Philippine Airlines, initially sought for a voluntary trading suspension from Jan. 3 to 9, in line with the Securities and Exchange Commission’s approval to decrease PAL Holdings’ authorized capital stock to P13.5 billion from P30 billion, resulting from the decrease in par value of each share to 45 centavos from P1. 

The SEC further approved the increase in par value of each share to P1 from 45 centavos, as a result of the decrease in the number of shares corresponding to the authorized and subscribed capital stock of the company.

The company also secured approval for the valuation of shares for a proposed share-swap transaction with Zuma Holdings and Management Corp. The transaction will allow PAL to issue 19 shares for each Zuma share surrendered.

With this, PAL Holdings will issue a total of 1.65 billion shares from its authorized but unissued capital stock to Cosmic Holdings Corp. and Horizon Global Investments Ltd., which own 60% and 40% of Zuma, respectively.

Zuma is the majority owner of Air Philippines Corp., which is an affiliate of PAL Holdings.

PAL Holdings’ capital restructuring looks to clean up the company’s balance sheet, as it seeks the entry of a new investor group. The company announced as early as 2014 that it is talking with potential investors to help manage its fleet.

The company swung to a net loss of P4.95 billion in the first three quarters of 2017, from a P2.55 billion net profit recorded in the same period in 2016. Revenues, meanwhile, climbed by 16% to P98.6 billion during the same period.


source: http://bworldonline.com/pse-extends-susp...al-shares/
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...nice development

PAL eyes completion of ‘mega’ Mabuhay Lounge in 2nd quarter

Philippine Airlines said it expects to complete the construction of a “mega” Mabuhay Lounge at  Ninoy Aquino International Airport by the second quarter.

PAL said it started the construction of a two-level International Mabuhay Lounge at Naia Terminal 2 that would showcase the best of Filipino food and offer world-class amenities including private work stations, a meeting room, sleeping pods, showers, changing rooms and a massage room.


MABUHAY NIGHT.  Philippine Airlines and Mabuhay Miles – PAL’s loyalty program for frequent flyers – co-sponsor a free-admission Mabuhay Night party at Kalibo’s Magsaysay Park that kicked off the week-long Ati-Atihan festival. Guest performers entertained a huge crowd, ahead of the series of Ati-Atihan parades and street dancing.
PAL aims to offer top-notch service and comfort that could redefine the experience of the airline’s business class passengers and frequent flyers, it said.

The flag carrier now offers nonstop flights from Manila to Toronto, London, Auckland, Vancouver, Los Angeles, San Francisco, Honolulu and Melbourne.  

It also operates the only daily nonstop flights to Sydney and four weekly services to New York JFK via Vancouver.

The airline led by tycoon Lucio Tan said it would deploy new Airbus A321 NEOs by February and A350s by June for Brisbane in Australia, India and the US East Coast.

PAL received seven airplanes in 2017, including five Bombardier Q400 turboprops for inter-island flights and two Boeing 777-300ERs for long-haul routes.

PAL’s complete fleet of ten 777s now fly to North America and London. 

The airline also operated its first international flight to Clark with the arrival of an A321 from Seoul. Other new routes include Seoul-Tagbilaran, Chengdu-Kalibo, Chengdu-Cebu, Manila-Kuala Lumpur, Cebu-Beijing and Cebu-Bangkok. 

PAL flies from Clark to Bacolod, Basco, Busuanga, Calbayog, Catarman, Cagayan de Oro, Caticlan, Cebu, Davao, Masbate, Puerto Princesa, Tagbilaran, Virac and Seoul. 

From Davao, PAL opened three new routes (Davao to Tagbilaran, Cagayan de Oro and Zamboanga) using the new Q400s.

Ten domestic routes were opened from Cebu – Siargao and Camiguin (new PAL destinations) as well as to Cagayan de Oro, Caticlan, Legazpi, Ozamiz, Puerto Princesa, Surigao, Tacloban and Tagbilaran.


source: http://manilastandard.net/business/trans...arter.html
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