January 4 – A government proposal for autonomy in 4 Muslim-dominated provinces in Mindanao is agreed by Muslim separatists, ending the 14-year secessionist war in the area.[1]
January 27 – Pro-Marcos rebel soldiers, led by Col. Oscar Canlas, occupyGMA Network compound, wherein a siege by some 300 mutineers for almost 3 days ends in their surrender to the government, with 35 wounded; Villamor Air Base, wherein an assault results in the death of a mutineer and 16 injuries; as well as Sangley Point Naval base and the government-owned PTV-4. In connection with the coup attempt, at least 509 people would be arrested; 107 soldiers would be convicted by a military court in 1988.[1][2][6][7][8][9]
February 8 – A ceasefire between government troops and the guerrilla forces, began in December 1987, expires.[1]
February 10 – A clash between 40 communist New People's Army (NPA) rebels and the military forces in Lupao, Nueva Ecija kills 17 villagers and a soldier; wounds an Army radioman. AFP chief Ramos apprehended 85 troops to barracks on Feb. 18 during an investigation.[1][4][12][13]
March 17 – Nineteen army soldiers are killed in a land mine attack perpetrated by Communist rebels in Quezon.[14]
March 18 – A bomb explosion at the PMA kills four people and injures 43.[1][14]
March 20 – Eighteen soldiers are killed when a military patrol is ambushed by the rebels in the southern Philippines.[1]
April
April 18 – A raid in Fort Bonifacio is staged by 56 mutineers trying to free soldiers detained for the failed Jan. 27 coup attempt; 62 people, including military officers, are kept hostage; but is repelled with a rebel soldier killed and two wounded.[1][7][8][12]
May
May 4 – An ambush by rebels in Malinao, Aklan leaves 16 government soldiers dead and nine wounded.[1][15]
July 27 – A renegade colonel, found led two plots against Pres. Aquino, is arrested by the military; coinciding with the beginning of the new Congress' first session.[1]
August
August 1 – Pres. Marcos' former intelligence chief is charged with plotting to overthrow the Aquino government.[1]
September 2 – Twenty-one government troops are killed in an ambush at a village in Quezon. On the same day, ten are killed in a raid in the municipal hall of Gonzaga, Cagayan. Both attacks are perpetrated by the NPA rebels.[23]
September 5 – Almost one platoon of constabulary forces, later colloquially described as the Lason Batch, fell victims to a mass poisoning attack in Zamboanga in which 19 soldiers died and 140 were hospitalized.[24][25][26]
December 30 – A regional court orders the release of former colonel Rolando Abadilla, accused in his involvement of two coup attempts against Pres. Aquino, allowing him to run in local elections the following month.[1]
As per Executive Order No. 292, chapter 7 section 26, the following are regular holidays and special days to be observed in the country. The order was approved last July 25.[37] Note that in the list, holidays in bold are "regular holidays" and those in italics are "nationwide special days".
March 1 – ABS-CBN launches the Star Network for the relaunch of Channel 2 after six months and the first white tri-ribbon 2 logo laced with a rhomboidal star came to be.
March 2 – TV Patrol was launched as its first flagship evening newscast replacing the former flagship national news program Balita Ngayon.
According to Aviation Safety Network database (Link), the said aviation accident was the 2nd worst at that time and currently the 5th. The worst at that time was the one which occurred in May 1964, now the 3rd deadliest, with 80 fatalities (including 1 on the ground). (See the details of May 1964 and June 1987 accidents. Retrieved 02-11-2021.)
On the other hand, it might be the country's worst commercial aviation accident at that time. It was reported that, in 1967, another plane of same aircraft type and from same operator crashed in northern Luzon, with 56 deaths. (Refer to cited news articles.) However, it was proved unverified as there is no such accident in the said database.
Det Norske Veritas Report No. 97-2053, Annex 1: Passenger Vessel Evacuation Descriptions, sec. I.4.1, p. I.36, FSA of HLA on PassengerVessels, C8065\annex 1.doc 1 November 2001. http://research.dnv.com/skj/Fsahla/Annex1.pdfArchived September 30, 2018, at the Wayback Machine