Due Diligencer’s take
PAL Holdings has only one subsidiary in Philippine Airlines Inc., which, in flip, owns some of devices. It requested the SEC that it be located underneath receivership and eventually underneath rehabilitation in 1998, after it failed to pay debts that amounted to extra than $2 billion.
In 2007, it sought an go out from receivership and opted to undertake its personal rehabilitation. Lawyer Perfecto R. Yasay Jr. Became then the SEC chairman.
Is PAL Holdings on its way to financial restoration?
As of March 31, PAL Holdings had general current property of P30.146 billion against total modern liabilities of P64.225 billion. As of Dec. 31, 2016, it had cutting-edge belongings of P29.545 billion towards cutting-edge liabilities of P59.244 billion.
The company mentioned internet loss of P1.157 billion in the first region of 2017 towards internet income of P2.Ninety eight billion inside the same 3-month period in 2016. This translates to loss according to proportion of P0.05 inside the first sector this year and incomes in step with percentage of P0.13 in the similar first zone of 2016.
PAL Holdings recorded such net income on revenues that accelerated to P33.326 billion in the first quarter of 2017 from P29.124 billion in the same duration in 2016.
With Kapitan Lucio manning the cockpit, there could still be hope for PAL Holdings’ public stockholders to recoup their investments. In fairness to him, he inherited a losing airline from the government, which used to personal PAL.
PAL Holdings has only one subsidiary in Philippine Airlines Inc., which, in flip, owns some of devices. It requested the SEC that it be located underneath receivership and eventually underneath rehabilitation in 1998, after it failed to pay debts that amounted to extra than $2 billion.
In 2007, it sought an go out from receivership and opted to undertake its personal rehabilitation. Lawyer Perfecto R. Yasay Jr. Became then the SEC chairman.
Is PAL Holdings on its way to financial restoration?
As of March 31, PAL Holdings had general current property of P30.146 billion against total modern liabilities of P64.225 billion. As of Dec. 31, 2016, it had cutting-edge belongings of P29.545 billion towards cutting-edge liabilities of P59.244 billion.
The company mentioned internet loss of P1.157 billion in the first region of 2017 towards internet income of P2.Ninety eight billion inside the same 3-month period in 2016. This translates to loss according to proportion of P0.05 inside the first sector this year and incomes in step with percentage of P0.13 in the similar first zone of 2016.
PAL Holdings recorded such net income on revenues that accelerated to P33.326 billion in the first quarter of 2017 from P29.124 billion in the same duration in 2016.
With Kapitan Lucio manning the cockpit, there could still be hope for PAL Holdings’ public stockholders to recoup their investments. In fairness to him, he inherited a losing airline from the government, which used to personal PAL.
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