By Tarra Quismundo
The Supreme Court has upheld the Court of Tax Appeals’ order for the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) to refund to Philippine Airlines some P4.55 million in excise taxes that PAL had paid, under protest, in 2007 for its imported cigarette and liquor supplies for its international flights.
By the staff
The question on who will control Philippine Airlines (PAL) was finally settled but many more remain, such as whether reforms under San Miguel Corp. will continue and even how employees feel about the “new-old” management coming onboard.
By Doris C. Dumlao
The group of tycoon Lucio Tan is raising $780 million to cement control of flag carrier Philippine Airlines (PAL) through a bridge financing from four big local banks, with the bulk to come from banks led by the family of taipan Henry Sy.
By Conrado R. Banal III
Whether or not the family of taipan Lucio Tan would make good on their tender to get back the whole of Philippine Airlines from San Miguel, the financial markets would probably consider it as an insignificant development for San Miguel.
By Miguel R. Camus
Philippine Airlines (PAL) may end years of losses in 2014 with a costly writedown from retiring old planes out of the way as the flag carrier remains bullish on new routes, its top official said.