Philippine Airlines, Incorporated (PAL) is the single four-star international airline of the Philippines.
As an airline service provider, it possesses a network that comprises more than 40 international. Plus, it covers 30 domestic destinations.
PAL has a fleet of 98 advanced-technology aircraft. Starting May this year, PAL will re-introduce a non-stop service from Cebu, Philippines to Los Angeles, California in the United States.
The airline firm briefly served the passengers in these destinations from March 2016 to May 2017.
Based on the news posted online by The Philippine Star, an English-language print and digital newspaper, PAL is also looking to launch a new service for passengers traveling from Manila to Seattle, Washington in the United States.
For possible new services in North America, the largest city of Washington State has reportedly long been on the agenda of the Philippine airline company.
Furthermore, beginning March 29, PAL will be introducing non-stop flights between Davao and Manado, Indonesia.
Travels between Zamboanga and Kota Kinabalu, Malaysia are also on the list of the Philippine airline company’s new flight destinations.
Meanwhile, starting March 30, the airline company will be launching the inaugural non-stop flights between Manila and Perth, Australia.
As the airline service provider gets ready for fundraising ventures in the future, PAL has more than doubled its capital base.
From P13 billion to P30 billion, the Philippine flag carrier has successfully augmented its authorized capital stock.
The stockholders of the company gave this increase in capital base the green light during a special conference held yesterday, February 18, 2020.
The Securities and Exchange Commission of the Philippines will file this latest capital build-up of PAL.
This capital stock increase of the Philippine flag carrier is a component of the company’s reorganization towards a higher level of competitiveness.
PAL is also reportedly aiming for sustainable profitability for the long-term.
Gilbert Santa Maria, the president and chief operating officer of PAL, confirmed that his company requires new capital.
The capital base increment backs the future fundraising activities of the airline service provider, he remarked.
PAL Holdings, Incorporated (PSE: PAL) is the holding company of Philippine Airlines.
It closed on February 18, 2020 at P7.40 per share. This last trade price of the stock did not mark any changes.
The total value reached P21,265.00. The 52-week high of PAL is at P11.64.
Meanwhile, the flag carrier of the Philippines’ 52-week low is at 6.95, based on the data published online by the Philippine Stock Exchange, the national stock exchange of the country.
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