Philippine Air in talks with lessors, returning some planes, reports CNN Philippines
Philippine Airlines has been in talks with its aircraft lessors about reducing its fleet size and returning some planes as part of a restructuring process, President Gilbert Santa Maria said. The carrier is stepping up cargo operations and flying to new destinations, particularly to the Pacific region, to generate revenue, Santa Maria said. Bloomberg reported on Friday that the carrier could return at least two Airbus SE A350s to lessors and four of the 10 Boeing Co. 777s in its fleet, citing some people familiar with the plan. The airline is managing liquidity and "trying to continue to get the forbearance from our lessors on the payments on the aircraft,” Santa Maria said. <br/>
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Philippine Air in talks with lessors, returning some planes, reports CNN Philippines
Philippine Airlines has been in talks with its aircraft lessors about reducing its fleet size and returning some planes as part of a restructuring process, President Gilbert Santa Maria said. The carrier is stepping up cargo operations and flying to new destinations, particularly to the Pacific region, to generate revenue, Santa Maria said. Bloomberg reported on Friday that the carrier could return at least two Airbus SE A350s to lessors and four of the 10 Boeing Co. 777s in its fleet, citing some people familiar with the plan. The airline is managing liquidity and "trying to continue to get the forbearance from our lessors on the payments on the aircraft,” Santa Maria said. <br/>
