PAL Holdings Inc, the parent company of Philippine Airlines (PAL), on Friday reported a 30-percent drop in net income in the first half of 2024 on higher operating expenses and fleet expansion.
The company said its total comprehensive income amounted to P9.48 billion in the first six months, lower than last year’s P13.56 billion.
“Philippine Airlines remains on track in its transformative growth strategy as we deliver a more efficient airline offering quality service, to fulfill our mandate as the Philippines’ flag carrier and only full-service airline with the largest network,” said PAL Holdings Inc. president and chief operating officer Lucio Tan III.
PAL expanded flights by 11 percent and carried almost 8 million passengers across its international and domestic network, or 13 percent more than the 7 million in the same period of 2023.
PAL’s expansion aligns with an overall growth in air travel, with Manila’s Ninoy Aquino International Airport alone showing a 13-percent growth in passenger volume.
Be the first to comment