SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Nov 26, 2024

2. SEC Identification Number

PW-94

3. BIR Tax Identification No.

000-707-922

4. Exact name of issuer as specified in its charter

PAL Holdings, Inc.

5. Province, country or other jurisdiction of incorporation

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

8th Floor, PNB Financial Center, Pres. Diosdado Macapagal Avenue, CCP Complex, Pasay City Postal Code 1307

8. Issuer's telephone number, including area code

(02) 8810-2451

9. Former name or former address, if changed since last report

Not Applicable

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common	26,852,106,800

11. Indicate the item numbers reported herein

Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

PAL Holdings, Inc.PAL

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Clarification of News Reports

Source	PhilStar (Online Edition)
Subject of News Report	"PAL likely to end 2024 with lower earnings"
Date of Publication	Nov 26, 2024

Clarification of News Report
November 26, 2024 DISCLOSURE DEPARTMENT THE PHILIPPINE STOCK EXCHANGE, INC. Philippine Stock Exchange Plaza, PSE Tower, 5th Avenue corner 28th Street, Bonifacio Global City, Taguig City Attention: ATTY. STEFANIE ANN B. GO Officer-in-Charge, Disclosure Department Gentlemen: This refers to your letter dated November 26, 2024, seeking clarification of the news article entitled “PAL likely to end 2024 with lower earnings” posted in PhilStar (Online Edition) It was reported in part that: “MANILA, Philippines — Flag carrier Philippine Airlines (PAL) is expected to finish 2024 with lower profit following last year’s record financial performance. “Definitely it will be lower than last year,” PAL president and chief operating officer Stanley Ng said when asked if the company would be able to end the year with a higher profit. . . . .” The statement attributed to PAL President Capt. Stanley Ng in response to a media query reflects the context of PAL’s recently disclosed operational results and the general industry observation that travels have normalized since last year. Accordingly, it was a cautious statement indicating a reasonable expectation that the company may not replicate the financial results achieved in the previous year. We trust that we have clarified your query on the said news article. Very truly yours, PAL HOLDINGS, INC. By: MA. CECILIA L. PESAYCO Corporate Secretary
Other Relevant Information
None.