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.
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