Philippines' airlines press government for financial help

Cebu Pacific and Philippine Airlines have slashed nearly 500 jobs over the last two months and more could follow. - Philippine Daily Inquirer

MANILA (Philippine Daily Inquirer/ANN): The Philippines’ top three airlines are seeking a financial lifeline from the Duterte administration as the new coronavirus disease (Covid-19) deals an “existential threat” to the domestic aviation sector — mirroring the crisis facing the industry globally.

The Air Carriers Association of the Philippines (Acap), comprising Philippine Airlines, Cebu Pacific and AirAsia Philippines, called on the government to urgently intervene as revenues run dry while billions of pesos in refunds and fixed costs mount.