PAL Holdings net loss narrows as revenues rise

ABS-CBN News

Posted at Nov 12 2018 10:58 AM

Philippine Airlines rolls out its Airbus A350 and A321neo at Villamor Airbase in Pasay City on July 17, 2018. Its holding company reported that third quarter net loss narrowed as revenus rose. George Calvelo, ABS CBN News

MANILA -- Philippine Airlines' holding company said its net loss narrowed in the quarter ending September as revenues grew.

PAL Holdings reported net loss attributable to shareholders of P2.52 billion in the third quarter, from P2.92 billion during the same period in 2017.

Gross revenues rose 22 percent to P36.94 billion from P30.27 during the same comparable period. Gross expenses were up 21 percent to P39.73 billion from P32.96 billion.

Shares of PAL Holdings were unchanged at P8 in early trading.