No more revenge travel? PAL H1 net income down as travel demand normalizes | ABS-CBN
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No more revenge travel? PAL H1 net income down as travel demand normalizes
No more revenge travel? PAL H1 net income down as travel demand normalizes
ABS-CBN News
Published Aug 13, 2024 12:51 PM PHT
MANILA -- Philippine Airlines (PAL) ended the first half of 2024 with lower net income at $122 million, 51.2 percent lower than $250 million it recorded in the same period last year.
MANILA -- Philippine Airlines (PAL) ended the first half of 2024 with lower net income at $122 million, 51.2 percent lower than $250 million it recorded in the same period last year.
PAL said this is is in line with expectations, as travel demand normalizes after the post-pandemic surge last year.
PAL said this is is in line with expectations, as travel demand normalizes after the post-pandemic surge last year.
Revenue, however, reached $1.6 billion. This was backed by a higher passenger volume of close to 8 million, as it expanded the number of flights by 11 percent.
Revenue, however, reached $1.6 billion. This was backed by a higher passenger volume of close to 8 million, as it expanded the number of flights by 11 percent.
The number of passengers also expanded by 13 percent, PAL noted.
The number of passengers also expanded by 13 percent, PAL noted.
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PAL Holdings
Inc. President and Chief Operating Officer Lucio C. Tan III said the company remains on track in its growth strategy to become a more efficient airline.
PAL Holdings Inc. President and Chief Operating Officer Lucio C. Tan III said the company remains on track in its growth strategy to become a more efficient airline.
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