Financial Round Up
PAL bounces back to 1Q profit
May 11th 2015
Lucio Tan’s Philippine Airlines (PAL) has reported a first-quarter net profit of 3.8billion pesos ($85 million), up from a $20.7 million net loss in the year-ago period. Read More » In the financial year ended December 31, 2014, the national carrier posted its first full-year after-tax net profit of 127.3 million pesos following three years of consecutive losses.
In a statement, PAL attributed the turnaround to an overall increase in passengers on its new international routes, along with an expansion of its domestic network.
