PHILIPPINES MAY SEVER AVIATION LINKS WITH TAIWAN

   Philippines regulators are threatening to reverse a bilateral aviation
agreement with Taiwan, in another sign that the Philippine government has
adopted a policy to protect its debt-ridden national airline.
   The impasse between Manila and Taipei comes after the Philippine Civil
Aeronautics Board suspended in July the rights of Taiwanese carrier China
Airlines to serve Manila from Hong Kong. In May, Philippine regulators also repealed the rights of Emirates airline to fly from Hong Kong to Manila.
   The Philippines reportedly wants to renegotiate aviation agreements with
Hong Kong, Singapore, South Korea and Taiwan to reduce competition for Philippine Airlines, which still owes more than $2 billion to creditors.