Air Carriers Association of the Philippines (ACAP), the association of major Philippine airlines, has asked the help of the legislative and executive branches of the government in ensuring that bank loans will be granted to airlines. This will aid aviation companies in staying afloat and supporting around 25,000 workers while movement within the tourism sector is canceled.
ACAP vice chair Roberto Lim said at the Senate hearing on May 11, that the Philippine aviation industry will need around P8.6 billion in monthly subsidy—the total amount covering working capital, monthly wages, aircraft lease payments, and airport fees.
Lim then explained that the amount doesn’t necessarily need to be in cash and can be in the form of bank credit. Once airport operations restart, the association promises to pay back the banking institutions.
Philippine Airlines, Cebu Pacific, AirAsia, and Skyjet Airlines all announced that their flights are suspended until May 31 in compliance with the extension of the modified enhanced community quarantine. Affected passengers who booked flights from May 16 to 31 may either rebook, refund or convert the fare into travel funds. PAL and Cebu Pacific also posted new post-pandemic flight procedures for both the passengers’ and crew’s safety.