News
Philippine Airlines lifts quarterly profit 33% to US$76m
November 14th 2023
PAL Holdings Inc, the parent company of Philippine Airlines, said net profit rose 33.3% to 4.3 billion peso (US$76 million) in the three months to September 30 2023, from 3.2 billion peso in the same three months in 2022. Read More » Revenue was up 16.6% at 47.1 billion peso, PAL said in a regulatory filing. The company said the improved financial performance reflected the "continuing growth of passenger travel" and the ongoing expansion of flights across the airline group's network. "We will continue to fortify the Philippine Airlines Group against external headwinds such as volatile fuel prices and the impact of world events, while building up PAL as a resilient and dynamic competitor,” PAL Holdings president and chief operating officer, Lucio Tan III, said. “We reaffirm our commitment to provide safe, reliable and efficient service in line with our mandate as the nation's flag carrier, looking forward to the coming peak travel season."
