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Airlines await P700-M loan from Bayanihan II

THE Air Carriers Association of the Philippines (ACAP) on Monday said about P700 million had been allocated for local airlines from the law that sets out the government’s recovery plan in response to the pandemic, on top of the P10 billion they expect from state financial institutions to lend to or invest in the industry.

Lockdown brings P7-B monthly losses to local airlines — ACAP

AIRLINES in the Philippines suffer losses of P7 billion per month of lockdown apart from their accumulated losses of around P4 billion from travel refunds because of the coronavirus disease 2019 (COVID-19) crisis, the Air Carriers Association of the Philippines, Inc. (ACAP) said.