PHILIPPINE Airlines (PAL) reported a 62 percent rise in third-quarter net income to US$22 million, driven by higher revenues and steady passenger demand.
Total revenue for the quarter ended Sept. 30 grew three percent to $755 million as passenger traffic held at 3.8 million.
Ancillary income surged 25 percent, while cargo revenues gained two percent. Operating costs increased by two percent to $719 million.
Ebitda rose 28 percent to $140 million, with margins improving to 19 percent.
PAL maintained its top on-time performance ranking in Asia-Pacific for three straight months and earned a four-star rating from APEX.
For the first nine months, net income climbed 17 percent to $159 million. The flag carrier is rolling out refurbished Airbus A321s as part of its fleet modernization. (KOC)