Philippine Airlines raised $300 million through a five-year bond sale, its first bond issuance since emerging from Chapter 11, according to Forbes. The proceeds are earmarked for fleet modernization, moving PAL’s post-reorganization story from balance-sheet repair into capital-market access and aircraft investment.

The bankruptcy baseline matters: PAL’s plan became effective after the court’s confirmation process in late 2021, with the debtor filing a notice of effective date for its confirmed Chapter 11 plan. The new bond sale gives creditors and aviation stakeholders a concrete marker that PAL can again tap unsecured or capital-markets financing for growth, not just sponsor support or restructuring exit liquidity.