PAL settles P6B debt to gov?t
Lucio Tan-led Philippine Airlines yesterday paid P6 billon to the government as settlement over unpaid navigational fees and other charges, two months earlier than the set deadline.
PAL VP for Legal Affairs Clara De Castro personally turned over the checks to the Civil Aviation Authority of the Philippines (CAAP) office in Pasay City.
One check amounting to P5,677,887,615 was handed over to CAAP chief cccountant Raul Eusebio. Another check worth P258,594,230.33, net of taxes, was turned over to Manila International Airport Authority (MIAA) assistant general manager for finance and administration Arlene Britanico.
The amount will be used to fund the much-needed infrastructure to support economic growth.
President Durterte earlier threatened to shut down terminal 2 of the Ninoy Aquino International Airport if PAL would not settle its liabilities to the government.
PAL has been exclusively using NAIA terminal 2 since 1999.