Busy first quarter lifted PAL income by 20%
The operator of flag carrier Philippine Airlines (PAL) opened the year with a strong performance as its bottom line rose by 20 percent due to busier operations in the first quarter.
In a financial disclosure, PAL Holdings Inc. reported its net income grew to P4.33 billion from P3.6 billion in the same period last year.
Total revenues were up 2.5 percent to P46.9 billion.
Broken down, passenger revenues were nearly flat at P40.53 billion. Passenger volume rose by 5 percent to 4.1 million.
Flying operation expenses rose by 3.36 percent to P21.86 billion from P21.15 billion.
During the period in review, PAL launched its Manila-Cauayan and Cebu-Catarman flights, strengthening its domestic network.
It also announced the introduction of the Cebu-Ho Chi Minh route by next month and Manila-Da Nang flight by July.
For the summer season, PAL is set to increase weekly round-trip domestic flights from its Cebu hub by 10 percent to 287. The flag carrier will beef up capacities, in particular, for flights to Siargao, Caticlan, Puerto Princesa, Coron, Tacloban and Davao.
Earlier this week, PAL announced its partnership with Qatar Airways to operate daily nonstop flights from Manila to Doha, Qatar.
“We are greatly encouraged by the support of our valued customers who choose to fly on Philippine Airlines’ global network, and for whom we are investing in progressive product and service improvements, fleet renewal efforts and digital innovations, with safety and reliability as our topmost concern,” PAL president and chief operating officer Stanley Ng said.
Aircraft deliveries
The carrier is set to receive this year the first of nine Airbus A350-1000 jets it ordered to service long-haul routes. Starting in 2026, it will start taking delivery of 13 A321neo (new engine option) aircraft.
PAL currently operates a 79-jet fleet.
The Lucio Tan-led airline is targeting to grow passenger volume this year by 10 percent to 20 percent.
