PAL sustains recovery momentum | Inquirer Business


Flag carrier Philippine Airlines Inc. (PAL) continues to regain momentum after ending the first half in profitable footing, supported by higher revenues from passenger and cargo businesses.

PAL delivered an operating income of P6.6 billion and net comprehensive income of P4.2 billion in the first semester. It was the first time for PAL to book positive first and second quarter financial results since 2016, the company said.

Its topline figure reached P58.1 billion for the semester, driven by passenger and cargo revenues which were up 258 percent and 31 percent, respectively, amid the easing of mobility restrictions.

“We view the positive operating results for first half 2022 as a demonstration of the loyal support of our PAL customers, for which we are deeply grateful, and a validation of the efforts of our shareholders, management and personnel to rebuild our international and domestic network amid the strengthening recovery of air travel,” PAL president Stanley Ng said in a statement on Wednesday.

Read Next

Don’t miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

For feedback, complaints, or inquiries, contact us.



Read original article here

Denial of responsibility! Vigour Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment
Enable Notifications    OK No thanks