Philtranco clarifies temporary suspension of operations following leaked memorandum

Philtranco Service Enterprises Inc. has issued an official statement to clarify the leaked internal memorandum that has been circulating online in relation to its business operations. The company has issued a statement to clarify that it will be temporarily suspending its business operations and is not closing down permanently.

The company mentioned in its statement an official directive dated February 2, 2026, and signed by its President and CEO, Michael M. Sabban, that the company will temporarily suspend its transport services as part of its current business decision. This is in response to the company’s admission that it has been experiencing serious financial losses, making it difficult for the company to continue with its regular business operations.

The internal memorandum, marked as “Official Notice of Business Stop Operation,” stated that the suspension of operations will take effect on March 30, 2026. The company has struggled for years to keep its business operations afloat but has reached a point where it can no longer afford to maintain its payroll and operational expenses.

However, Philtranco clarified that the memo’s wording is in relation to a suspension and not a permanent shutdown of the company. The management emphasized that this move was made only after exhausting all possible alternatives.

The memorandum also mentioned the significant role that the employees of the company, including the drivers, conductors, maintenance personnel, and office staff, have played. The company described Philtranco as more than a transportation company, as it is a century-old institution that has been established through the dedication and hard work of its employees. The management of the company expressed its gratitude for the dedication of its employees, including those times when it was difficult for them.

Philtranco has been known as one of the historic bus companies in the country, operating in different provincial routes in Luzon and Mindanao. The news has raised concerns among commuters and transport observers, given the company’s long presence in the Philippine transport industry.

At present, the company has not yet issued any updates regarding the duration of the temporary suspension and what will follow. Passengers and employees are advised to wait for updates from Philtranco regarding the next phase of their operations.

The company ended their statement by expressing their gratitude to all stakeholders for their understanding during this challenging time.