19 August 2014
 |
| Philippine Airlines (PAL) has found a goldmine in the Middle East after registering unprecedented growth in its income for the first six months mostly coming from the gulf region. PAL's revenue rose $1.13b, up by 164.3 percent from $43 million on the first half last year. Most of the new revenues were generated in the Middle East followed by Japan expansion and Canada flights while London registered a modest revenue buoyed by generous cargo traffic. The airline is expected to follow up expansion plans to the gulf by announcing new flights to Jeddah, Doha, Muscat, and Kuwait soon. Also in the pipeline are North American routes to Chicago and New York. |
One quarter of profit is no where near a gold mine especially when you consider how many losses PAL has sustained in recent years. If they can still say they are in the black in 2 years, then they can claim a gold mine.
ReplyDelete