Philippine Airlines received US court approval to access its debtor-in-possession (DIP) financing totaling US$505 million A casualty of COVID-related travel restrictions, PAL filed for bankruptcy in New York on September 3 The full access to DIP financing gives the airline additional liquidity to meet its obligations and continue operating as usual The US bankruptcy court also approved PAL’s motions for customer programs, critical and foreign vendors, employee compensation and authorization to implement the restructuring support agreements with stakeholders Philippine Airlines (PAL) on October 1 received US court approval to access its debtor-in-possession (DIP) financing totaling US$505 million, a core feature of the flag carrier’s restructuring plan.…