PAL Booked US$135 Million Net in 1st Quarter

 12 May 2023

Flag carrier Philippine Airlines (PAL) on Friday disclosed that it booked an operating income of $ 135.2 million or around P 7.4 billion in the first quarter of 2023.

PAL said this was a substantial improvement from the $33.8 million P1.7 billion logged by PAL in the first quarter of 2022.

The airline also said that its total comprehensive income hit $ 108.2 million or P5.9 billion during the period.

"The positive financial performance reflects the continuing strength of the recovery of air travel," PAL said. 

According to the airline, gross revenues hit $ 776.9 million or around P42.6 billion in the first quarter of 2023, which represented a 66.5 percent improvement from the same period in 2022, driven by a 156.2 percent increase in the number of passengers carried on PAL’s global network, the airline said.