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)

Mar 18, 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, 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 Report

Source	Bilyonaryo.com
Subject of News Report	"Hun Hun is now LT3: Lucio Tan's apo takes PAL on his back and pilots flag carrier to record $400 million profits"
Date of Publication	Mar 15, 2024

Clarification of News Report
18 March 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: MS. ALEXANDRA D. TOM WONG Head, Disclosure Department Gentlemen: This refers to your letter dated 18 March 2024, seeking clarification of the news article entitled “Hun Hun is now LT3: Lucio Tan’s apo takes PAL on his back and pilots flag carrier to record $400 million profits” posted in Bilyonaryo.com on 15 March 2024, which reported in part that: “Bilyonaryo Lucio Tan’s Philippine Airlines is soaring under new leadership with profits breaking records in 2023, solidifying its strong recovery trajectory. A Babbler said PAL’s net income could reach close to $400 million before adjustments, marking the airline’s highest profit ever, doubling the figure reported in 2022. PAL’s remarkable growth story coincides with a shift in leadership and a series of strategic investments. . . . .” While it is true that great improvements were made on PAL ‘s operations following the transformation strategy adopted by the present Management, the reference in the news article that “ PAL’s net income could reach close to $400 … “ is highly speculative and may be a stretch, considering that the numbers have not been reviewed and pass upon by the Audit Committee and approved by the Board of Directors. We believe that there is no basis to claim that number at this time. We trust that we have clarified your query on the afore-quoted news article. Very truly yours, PAL HOLDINGS, INC. By: MA. CECILIA L. PESAYCO Corporate Secretary
Other Relevant Information
Please see attached files.