Phillippine Airlines was about to go bankrupt in 1998. At the end, they managed to sort everything out with the Trade Unions and PAL was saved!
I remember that Cathay Pacific had plans to take over Phillippines Airlines. What happened to the deal? How come CX did not buy PAL at the end?
And are they still interested in PAL? I guess PAL is on its own and they are doing alright........