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)

Sep 7, 2021

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, President Diosdado Macapagal Ave., 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	11,610,978,242

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	Manila Bulletin
Subject of News Report	“PAL expects to exit Chapter 11 within 2021”
Date of Publication	Sep 6, 2021

Clarification of News Report
07 September 2021 DISCLOSURE DEPARTMENT THE PHILIPPINE STOCK EXCHANGE, INC. Philippine Stock Exchange Plaza, PSE Tower, 5th Avenue corner 28th Street, Bonifacio Global City, Taguig City Attention: MS. JANET A. ENCARNACION Head, Disclosure Department Gentlemen: This refers to your letter dated 07 September 2021, seeking clarification of the news article entitled “PAL expects to exit Chapter 11 within 2021” posted in Manila Bulletin news on 06 September 2021. The article reported in part that: “Philippine Airlines (PAL) expects to be out of Chapter 11 before this year ends and remains optimistic it will survive and ‘fly long into the future’, although travel demand won’t return to pre-pandemic levels until 2024-2025. . . . .” Reference to the above-quoted statement, we wish to clarify that it is a statement of hope or wish from the senior Management of PAL that the Chapter 11 process will end quickly rather than a statement based on any legal consideration. There is no certainty that the judicial proceeding will terminate quickly that will allow PAL to exit Chapter 11 process before the end of 2021. It will all depend on the acceptance, oppositions or agreements of the creditors, lessors and other stakeholders to the proposed rehabilitation/ restructuring of PAL. At best, it is an optimistic view of the speaker which may not necessarily happen. Hope the above clarifies your query. Very truly yours, PAL HOLDINGS, INC. By: MA. CECILIA L. PESAYCO Corporate Secretary
Other Relevant Information
None.