4 August 2022
Flag carrier Philippine Airlines has booked net profit of US$71 million in the first half of the year supported by 258 percent growth in passenger revenues and a 31 percent growth in cargo revenues for January to June 2022, as compared to the same period in 2021.
The airline earned $ 1.1 billion (₱58.1 billion) in revenues while incurring only $986 billion (₱51.5 billion) in operating expenses, despite rising fuel prices billing them $380 million (P19.9 billion).
PAL President & COO Capt. Stanley K. Ng said the threefold jump in passenger revenue is “ a demonstration of the loyal support of our PAL customers and a validation of the efforts of our shareholders, management and personnel to rebuild our international and domestic network,”
“So, we will continue to be fiscally prudent as we mobilize our talents and resources to grow responsibly, in a way that helps boost tourism, supports overseas Filipinos and offers the best value to travelers and cargo shippers,” he adds.
PAL has successfully exited restructuring on 31 December 2021.
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