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PAL Holdings second quarter loss narrows to US$158.3 million
August 24th 2021
PAL HOLDINGS, the parent of Philippine Airlines (PAL), has reported a net loss of 7.96 billion peso (US$158.3 million) for the three months to June 30, an improvement from a net loss of 11.55 billion peso in the same three months in 2020. Read More » Revenue rose 105%, to 9.7 billion peso, PAL HOLDINGS said in its filing to the Philippines stock exchange. Costs inched up 0.3%, to 13.58 billion peso. "The COVID-19 outbreak and the measures taken by the Philippines and foreign governments have caused disruptions to PAL’s passenger operations, resulting in temporary suspensions and limited operations of its flights both on domestic and international routes," the group said. "PAL's aircraft delivery schedule was revised to align with the forecast recovery of travel demand. Both 2020 and 2021 aircraft deliveries were rescheduled for delivery in 2026-2030."
