PAL takes off with P19-B profit
Operating income also ballooned to P24.6 billion from January to September from only P11.5 billion in 2022.
Operating income also ballooned to P24.6 billion from January to September from only P11.5 billion in 2022.
Proof that indeed the aviation sector has fully recovered from the rude interruption caused by the two-year pandemic was Philippine Airlines Inc.'s spectacular results this year.
The continuing passenger travel growth has significantly helped the flag carrier to rake in P19.2 billion of net income in the first nine months of the year, up 166 percent from P7.2 billion last year.
In a report on Thursday, PAL said operating income also ballooned to P24.6 billion from January to September from only P11.5 billion in 2022.
11-M pax thus far
As of the end of September, PAL flew 11 million passengers, which represented an improvement of 6.4 million in the same period last year.
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Passenger revenues for the period also surged to P120.1 billion from P79.5 billion last year.
PAL president and chief operating officer Capt. Stanley K. Ng said the financial gains from the first three quarters will help bankroll the airline's fleet expansion to better serve passengers.
"We are immensely grateful for the support of our faithful customers and all our employees, partners and stakeholders. We assure them that we will continue investing in brand-new aircraft, upgraded products, and digital innovations that will help us deliver better service and a more satisfying experience for the people who entrust their flights and shipments to Philippine Airlines," Ng said.
"At the same time, we have to be ready to face potential major challenges in the coming months, as geopolitical upheavals drive up fuel prices and threaten economic disruptions."
Refleeting resumes
PAL's fleet expansion and service enhancements include the recently announced acquisition of Airbus A350-1000 long-range aircraft valued at a list price of over P176.6 billion for the nine aircraft ordered.
It also includes the expansion of the airline's Cebu hub network, an all-new customer relations management system offering more personalized self-service options for PAL customers, and continuing increases in staffing of customer care personnel.
With an extensive network of 33 domestic destinations, PAL operates the largest network of nonstop flights from the Philippines to North America, Japan, the Middle East and Australia.
