PAL books $348M net income


BUILDING on the gains registered in the first half of the year, Philippine Airlines (PAL) has now logged a net income of US$348 million (P19.2 billion) for the January to September 2023 period, vs. $133 million (P7.2 billion) for the same period in 2022.

PAL’s operating income was $444 million (P24.6 billion) for January-September 2023, vs. $212 million (P11.5 billion) in 2022. Altogether, PAL flew 11 million passengers for the first nine months of 2023, improving on the 6.4 million carried in the same period of 2022.

Passenger revenues for January-September 2023 grew to $2.17 billion (P120.1 billion), vs. $1.47 billion (P79.5 billion) last year.

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 $3.2 billion (P176.6 billion) for the nine aircraft ordered; 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.

In addition to 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.


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