Philippines Airlines shares hit hard; SIA increases fuel surcharges, March traffic highlights
Shares in Philippine Airlines dropped 12% in trading on Friday, although the shares have recovered 7.1% in early morning trading today. The PAL Employees Association (PALEA), warned earlier this month that its 3700 members may go on strike at any time, despite a certification order signed by Labour Secretary Rosalinda Baldoz barring a work stoppage. PAL is also seeking government approval for its plan to increase its fuel surcharges by up to 26% for select services.
