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SEC CHAIRMAN PERFECTO YASAY SPEAKS AT A PRESS CONFERENCE IN MANILA, 1999-06-04 (photo)

IMAGE number
REU8304567
Image title
SEC CHAIRMAN PERFECTO YASAY SPEAKS AT A PRESS CONFERENCE IN MANILA, 1999-06-04 (photo)
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Medium
photograph
Date
1999 AD (C20th AD)
Shooting Date
1999-06-04
Image description

Chairman of the Security Exchange Commission (SEC) Perfecto Yasay speaks at a press conference in SEC's office in Manila June 4. He said the Philippine Airlines (PAL) escaped a crash into liquidation after it successfully raised $200 million in fresh equity. PAL, which began flying operations during World War II, has in recent years been weakened by heavy financial losses, plagued by labour conflicts and swamped by debts totalling $2.2 billion. On the left is PAL President Avelino Zapanta. RR/LCY/TAN/AA

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REUTERS / Bridgeman Images
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