MANILA, Philippines — Philippine Airlines is streamlining its business as it implements “voluntary separation” and retrenchment of some 300 ground-based employees and management staff.
This comes after the country’s flag carrier incurred losses in 2019 and the current travel restrictions and flight suspensions to several areas affected by COVID-19 outbreak.
PAL said that the program covers voluntary separation initiative for long-serving employees and a retrenchment process that pared off about 300 ground-based administrative and management personnel from its workforce, effective February 28.
In a statement released on Friday, PAL said that all of them “will receive appropriate separation benefits, additional trip pass privileges, and assistance in the form of career counseling and outplacement support.”
The airline further said that it has also optimized its route network and offered ancillary products in a bid to raise revenues, and take on “more aggressive” efforts to reduce operational costs to raise additional revenues.
The country’s biggest flag carrier also said that it increased its authorized capital stock from P13 Billion up to P30 Billion, as part of its transformation to sustainable profitability and higher competitiveness this February as it resets its targets and aimed to be more profitable for the rest of 2020.
While campaigning its plans for the whole year, PAL said the company continues on managing the risks related to the COVID-19 situation as its part in promoting public health and safety.
PAL brought home the 445 Filipino crewmembers and tourists of the corona virus-contaminated cruise ship Diamond Princess of the Sea from Japan to Manila this week. The airline also carried out repatriation flights from Wuhan City, China. — /mbmf
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