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Philippine Airlines to delay or drop Airbus orders in rehab plan

Carrier aims to exit bankruptcy process this year as it seeks new investors

Philippine Airlines says it expects air travel demand to return to pre-pandemic levels by 2024 or 2025. Billionaire Lucio Tan, who controls the struggling flag carrier, is set to inject $505 million into the company.

MANILA -- Philippine Airlines will delay or cancel the delivery of over a dozen Airbus planes, company officials said on Monday, adding that the distressed flag carrier is looking to emerge from bankruptcy protection by year-end.

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