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PAL posts P13.6 billion record net income; to invest in fleet
PAL posts P13.6 billion record net income; to invest in fleet
ABS-CBN News
Published Aug 11, 2023 06:34 PM PHT
A Philippine Airlines plane is seen at the background as a man uses his phone at the arrival area of the Ninoy Aquino International Airport (NAIA) Terminal 1 in Pasay City on May 24, 2021. Jonathan Cellona, ABS-CBN News/File
MANILA -- Philippine Airlines (PAL) on Friday said it will buy new aircraft to boost its fleet after it posted a record net income of P13.6 billion in the first half of 2023.
In a statement, PAL said it is purchasing 9 Airbus A350-1000 long-range jetliners, valued at more than $3.2 billion or P176.6 billion, based on the list price of $366.5 million per aircraft.
PAL also said it wants to hire more customer care and contact center agents, and roll out a new customer relations management system within the year to provide more personalized self-service options for customers.
“The latest positive financial results enable us to build a better, stronger and more agile Philippine Airlines that creates greater value for our customers, and we are grateful for their continuing support and patronage,” said PAL chief operating officer Stanley Ng.
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PAL Holdings President Lucio C. Tan III, for his part, said he is pleased to see the benefits of the sacrifices the company took over the past few years.
"PAL is on a recovery track and is now in a position to carry out major product and digital transformation initiatives in order to grow amid a more competitive and challenging aviation industry," he added.
PAL said it carried 7 million passengers on over 50,400 flights from January to June. Passenger revenues rose to $1.4 billion, or P78.2 billion.
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