RP exerting all to save PAL

RP exerting all to save PAL

MANILA (Reuters): The Philippine government said on Sunday it was exerting all efforts to save Philippines Airlines (PAL) which has announced it will close shop next week.

"With two days to go before Philippine Airlines closes down, President Joseph Estrada is still trying to get the airline's management and labor to agree to a settlement that can keep the airline on air," the presidential palace said.

"The president is exhausting all efforts to arrive at a middle ground," the palace statement added.

Estrada has said he will meet management and the unions on Monday to try and work out a compromise but there is no indication such a meeting has been scheduled.

Asia's oldest national airline has said it will cease operations after 57 years at midnight on Wednesday, citing enormous losses and protracted disputes with its pilots, attendants and ground crew unions.