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The airline was founded on February 26, 1941, as Philippine Air Lines when its franchise to operate was transferred from Philippine Aerial Taxi Company (PATCO). [3]Formerly one of the largest airlines in Asia, PAL was severely affected by the 1997 Asian financial crisis.
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It commenced operations on March 18, 1931, with a round-trip flight from Manila to Iloilo. [2] The company then had scheduled Manila-Baguio and Manila-Paracale flights. [3] The company became dormant for six years on its scheduled passenger operation under its assigned routes. [4] During the 1930's, the airline was based in Grace Park Airfield.
On April 19, 2000, a Boeing 737-200 jet operating as Air Philippines Flight 541 from Manila to Davao crashed before the approach at Francisco Bangoy International Airport. 124 passengers, and seven crew were killed. It was the deadliest accident of the airline and the worst aviation disaster in Philippine aviation history.
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