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Philippine Airlines achieves 182% profit growth; embarks on digital and product revamp
August 14th 2023
PAL Holdings, the parent company of Philippine Airlines, has posted a net profit improvement, to 11 billion peso (US$194 million), in the six months to June 30 from 3.9 billion peso in interim 2022. Read More » Revenue was up 52.4%, at 87.4 billion peso, PAL said in a regulatory filing. “We are pleased to see Philippine Airlines beginning to realise the benefits of the sacrifices we took in the past few years,” PAL Holdings president and chief operating officer, Lucio Tan III, said. “PAL is on a recovery track and now in a position to carry out major product and digital initiatives to expand amid a more competitive and challenging aviation industry.”
