Philippine Airlines and international operations of PALIn a desperate move to revive the company, Philippine Airlines was re-privatized in the 1990’s. However, in 1997, the company suffered the biggest blow yet. PAL was greatly affected by the 1997 Asian Financial Crisis. The airline was forced to cut international operations especially in Europe and reduce domestic routes, in order to survive. In August 2009, PAL reportedly lost an estimated $297.8 million, for the fiscal year of 2008-2009. The loss was mainly blamed on the global recession and soaring fuel prices. The following year, Philippine Airlines Inc. had to overcome serious labor disputes with their pilots, flight attendants and ground staff.
