Philippine Airlines – A Strong Presence in the Pacific Rim

By DirkHambridge on January 20, 2011 In Home Business

There are airlines that America has seen crumble that were once considered mainstays. But because the airline business is incredibly difficult, that is the nature of things. And like everyone else, Philippine Airlines has seen its share of hard times. They were in receivership from the late 90s and only recently came out of it in 2007. But through it all, they don’t seem to have lost the fighting spirit that they started with in 1941. They have been aggressively upgrading their fleet to current standards as well as purchasing the latest technologically equipped and designed long distance aircraft.

Help build a nation was the mission of Philippines Airlines from the beginning. March 15, 1941 was when the company was launched. PAL had only one aircraft when they started – we think that is so amazing! Keeping in mind the world events of 1941, it’s even more amazing to realize that it was a small aircraft. PAL has pushed forward with the same brave attitude that they started with.

Being a socially aware company, it seems where ever PAL goes good things happen. This helps them stand out among the other airline companies. They own two Boeing 777s among dozens of other sophisticated aircraft.

In 1992 Lucio Tan financed the purchase of Philippine Airlines, Incorporated. Perhaps the most interesting aspect of this sale is that it was done in secret and without the knowledge of the Filipino government. Then, later on (in 1995) Tan was named chairman of PAL. Philippine Airline’s was new to private ownership when those events took place in 1992. Since then, PAL has followed the ups and downs of the world and Asian financial sector. The airline business is incredibly hard to operate. The profit margins of these companies are not as hefty as those of other corporate companies. Since they worked through their receivership (in the later part of this decade), however, they are moving on.

In case you have never heard of Mabuhay Miles, that is the name for Philippine Airlines’ frequent flyer program. What PAL did in 2002 was take the best from all of their frequent flyer type programs and put them into one. What that did was simplify things plus put everything under one command and control apparatus. That kind of program consolidation is good for any business when it allows them to be more adept and responsive. So Philippine Airlines came through the crisis in the Asian markets despite requiring the help of creditors a few years later.

Since they exited financial receivership in 2007, Philippine Airlines, has done some major investing.

Fleet upgrades have run them almost $100 million. Plus we always like telling people about the two Boeing heavies they now possess. The fighting spirit of this company has helped it survive the past 60 plus years.

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