2 weeks Ago By Press Release
PHILIPPINE Airlines (PAL) achieved a net income of US$13 million (P812 million) and an operating income of $27 million (P1.6 billion) in the third quarter of 2024, posting its 11th consecutive quarter of positive financial results, since its emergence from the pandemic restructuring. Year-to-date, PAL has generated a net income of $135 million (P8 billion), with a net operating income of $209 million (P12 billion) for the first nine months of 2024.
This year, PAL carried 11.7 million passengers, a six percent growth from the same January to September period last year, generating $2.3 billion (P134 billion) in revenues.
This represents a reduction of four percent versus the same period in 2023 as significant industry capacity growth impacted yields. PAL continues to expand its network with the launch of its new Manila-Seattle route on Oct. 2, 2024.
In preparation for the busy holiday season, the airline is resuming its Clark-Siargao flights beginning Dec. 3, its Cebu-Osaka flights on Dec. 22, and introducing the new Manila-Cauayan route starting Jan.
15, 2025. / PR.
