PAL posts $348 million net income from January to September | ABS-CBN

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PAL posts $348 million net income from January to September

PAL posts $348 million net income from January to September

ABS-CBN News

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MANILA -- Philippine Airlines (PAL) on Friday said it posted a net income of $348 million in the first 9 months of 2023.

This is higher than the $133 million they made in the same period in 2023, the airline said in a statement.

The flag carrier also said they flew 11 million passengers from January to September, boosting passenger revenues to $2.17 billion in the first three quarters versus $1.47 billion in the same period last year.

In a statement, PAL president and chief operating officer Captain Stanley K. Nang said they will continue investing in new aircraft and updating their products and services.

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"At the same time, we have to be ready to face potential major challenges in the coming months, as geopolitical upheavals drive up fuel prices and threaten economic disruptions," he added.

PAL Holdings President Lucio C. Tan III, for his part, said they will continue to fortify the company against external headwinds like volatile fuel prices and other world events.

PAL recently reopened more domestic flights that it closed down during the COVID-19 pandemic.

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