PAL Holdings, Inc.

PAL Holdings, Inc. is a Philippines-based holding company. The Company is primarily engaged in air transport of passengers and cargo within the Philippines and between the Philippines and several international destinations. The Company operates through its two major subsidiaries: Philippine Airlines, Inc. (PAL) and Air Philippines Corporation (APC). PAL is the national flag carrier of the Philippines, and its principal activity is to provide air transportation for passengers and cargo within and outside the Philippines. APC is primarily engaged in the business of air transportation for the carriage of passengers and cargo within and outside the Philippines. APC is doing business under the name and style of Philippine Airlines or PAL Express.