PAL turnaround drives $159M gain

Flag carrier Philippine Airlines (PAL) soared to a net income of $159 million in the first nine months of the year, up 17 percent from a year ago, riding the momentum of its ongoing transformation plan.

In a stock exchange report on Tuesday, the company disclosed that its third-quarter profit surged 62 percent year-over-year to $22 million on $755 million in revenue, fueled by steady passenger traffic, a 25 percent jump in ancillary income, and rising cargo volumes.

Passenger revenues alone hit $632 million.

PAL’s loyalty program, Mabuhay Miles, also helped keep seats filled, with membership climbing 15 percent and flight redemptions boosted by the Great Mabuhay Miles Getaway promo.

Meanwhile, operating costs crept up just 2 percent to $719 million, while EBITDA climbed 28 percent to $140 million, giving the carrier strong 19 percent margins.

Capital spending rose to $308 million as PAL continued modernizing its fleet.

Operationally, the flag carrier clinched the top on-time performance ranking among Asia-Pacific airlines from August to October and earned a four-star major rating from the Airline Passenger Experience Association.

“These accolades enhance PAL’s position as the nation’s flag carrier, affirming its reputation for reliability, customer service, and operational excellence,” PAL President Richard Nuttall said.

“We remain focused on delivering value to stakeholders, elevating the passenger experience, and ensuring the highest safety standards,” he added.

To sustain its growth momentum, PAL is rolling out refurbished Airbus A321ceo aircraft with in-flight entertainment across all cabins, set for routes to Tokyo, Osaka, Jakarta, Bali, and Guam by year-end.