Daily TribunePAL president and chief operating officer Stanley Ng acknowledged that supply chain issues have affected operations early this year but he noted that the airline is ready to address the challenges
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From January to March, PAL's capital expenditures hit roughly P4.20 billion. That amount was used for pre-delivery payments on PAL's Airbus A350-1000s order and other aircraft-related requirements.
Photograph courtesy of Philippine Airlines
Flag carrier Philippine Airlines (PAL) suffered a 25 percent decline in its net income in the first quarter of the year to P4.57 billion from P5.89 billion in the same period last year due to the double whammy impact of a normalizing global market trend that slowed down travel demand and a weaker peso.
Based on its quarterly report released on Thursday, PAL’s consolidated revenue grew by 8.51 percent to P45.80 billion from January to March from P42.21 billion a year ago.
However, total operating expenses also inched up by 12.64 percent to P39.09 billion P34.68 billion.
In a separate statement, PAL president and chief operating officer Stanley Ng acknowledged that supply chain issues affected the company’s operations early this year but he noted that it is ready to address the challenges.
Nonetheless, Ng said he remains bullish that the company will continue forging the right track to hit its growth strategies, especially in the areas of fleet growth, route network expansion, and service innovations.
Strong reception
“We are particularly pleased with the strong reception that the Manila-Seattle route has been getting since our announcement last month,” he said.
From January to March, PAL's capital expenditures reached roughly P4.20 billion, which was used to bankroll the pre-delivery payments on the Airbus A350-1000s on order and other aircraft-related requirements.
Starting July, PAL is set to restore flights between Clark and Basco, Batanes as part of its ongoing effort to reopen more routes from Clark and expand its network in Central Luzon.
The flag carrier will also become the first airline to connect the Philippines and the US Pacific Northwest by launching nonstop flights between Seattle and Manila in October.
Seattle will join PAL's extensive list of destinations in North America and become its sixth location in the U.S.
PAL boasts the most comprehensive network of nonstop flights between the Philippines and the United States.
The airline currently operates flights to Los Angeles, San Francisco, New York, Honolulu, Guam, and the newly added Seattle.
