Philippine Airlines is not just another shipwreck of a company. PAL had hoped for an infusion of capital from another airline to keep it afloat and help it resume payments on dlrs 2.1 billion in debt. PAL earlier accepted a preliminary investment offer from Cathay Pacific, and the companies announced Nov. 10 that they would draw up a comprehensive plan to rehabilitate the Philippine flag carrier. The number of labor strikes and lockouts in the Philippines has declined this year despite business difficulties caused by Asia's financial crisis, the labor department said Sunday.