Dec 242016
 
Allan Q. Coo, PAL regional manager for North America, International

Allan Q. Coo, PAL regional manager for North America, International

By Abner Galino and Joy Marino

With barely two weeks left in year 2016, Philippine Air Lines (PAL) is set to claim another robust year into its storied corporate journey.

Allan Q. Coo, PAL regional manager for North America, enumerated the headways that the Philippine flag carrier has achieved throughout the year 2016, chief of them: acquiring two more Boeing 777s.

“The first one – RP7778 – was added to our fleet during the last week of October and just 2 days ago, we received our 8th 777 and will be ready to be added to our roster this December operating the trans-pacific routes,” Coo announced during the annual PAL Christmas party held at the Crowne Plaza Hotel in Los Angeles last December 16.

Coo also announced the new PAL routes: Manila to Saipan, Taipei to Osaka, non-stop flight from Los Angeles to Cebu; the Singapore to Cebu route and Cebu to Caticlan and Cebu to Clark via Caticlan (started on December 16.

The new local routes were meant to support the growth Cebu, which PAL consider as itssecond hub, according to Coo.

“We have also strengthened our flight connections to and from Cebu to better serve our countrymen from Southern Philippines.”

The airline executive as took pride in PAL’s twice daily, non-stop flight from Los Angeles to Manila that started last Thursday (Dec 8).

“This gives our passengers a choice of leaving during the day or our regular evening flights. Both flights are operated by a Boeing 777,” Coo pointed out.

Maria Theresa Garces with team.

Maria Theresa Garces with team.

In Canada, PAL recently added two “turnaround flights to Vancouver (PR116/117) on Tuesdays and Thursdays. Toronto also received an additional flight to Manila on Saturdays which started last Saturday Dec 10.

“This gives PAL 10 weekly NON-STOP flights from Vancouver to Manila and 4 times a week service from Toronto to Manila via Vancouver,” Coo added.

Philippine Airlines is celebrating her 75thAnniversary. PAL’s new tagline “Heart of the Filipino” embodies its dedication to service and make Philippine Airlines a 5-Star carrier.

“We are all looking forward to the New Year and years to come as we take on more deliveries, the Airbus 350s in 2018 and 12 Bombardier Q400s. Upgrading our aircrafts, routes and air service for the traveling public,” Coo disclosed.

Ma. Theresa Garces, PAL Los Angeles manager, seconded Coo’s outlook and thanked the travel agents, the media and, foremost, the passengers who choose the services of the Philippine flag carrier on all of their trips.

“We are so grateful to you. Your patronage and friendships made these all happen. On behalf of the staff and management of Philippine Airlines, I would like to wish you and your loved ones a very Merry Christmas and a prosperous New Year,” said Garces as she closed another well-attended 2016 PAL Christmas party in Los Angeles.

May 302013
 
SMC secures $1-B loan to pay debts

MANILA, Philippines – Diversified conglomerate San Miguel Corp. (SMC) has secured a $1-billion loan from five banks to pay off its existing debts. Another $200 million will be tapped to maximize available funding under a $1.3-billion, five-year loan agreement, SMC said in a disclosure yesterday. “The company availed of a $1.3-billion facility loan agreement, which includes a greenshoe option,” SMC said. “To date, of the total amount available under the facility, the company has drawn $1 billion to pay in full and refinance its existing $1-billion loan,” it added. SMC earlier tapped Australia and New Zealand Banking Group Ltd., DBS Bank Ltd., Deutsche Bank AG, Bank of America Merrill Lynch and Standard Chartered Bank for a loan agreement. “The company intends to avail of an additional $200 million through the exercise of the greenshoe option under the facility,” SMC said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The diversified conglomerate has been paring its debts through new loans that offer better terms. In April, SMC generated $800 million from the largest issuance of a dollar-denominated bond by a Philippine company. It forms part of a $2-billion medium-term notes program of SMC. The holding firm is undergoing a five-year, $34.83-billion investment program that will make it the largest investor in the Philippines. The conglomerate said it will spend an average of P283.52 billion every year until 2017. From its core brewery and food business, SMC has expanded into power production (SMC Global Power Corp.), downstream oil sector (Petron Corp.), Read More …