PAL Expects More Passengers as Holiday Season Approaches

Flag carrier Philippine Airlines (PAL) aims to maintain its momentum of growth in the second half of the year as it anticipates more passengers during the holidays. PAL President Stanley Ng noted that the company has received a considerable volume of passengers who have been traveling over the past few months. The PAL executive, however, cautioned that a slowdown may arise in September, stating that the months ahead are “a lean season.”

Despite this, Ng still hopes that the second half of 2022 would be better or, at least, fare the same compared to the first half. In the first semester, PAL had an operating income of ₱6.6 billion with a net comprehensive income of ₱4.2 billion. This marks a noticeable change in contrast to the net loss it reported in the past year. Its gross figures reached ₱58.1 billion for the period, mainly driven by passenger and cargo revenues. Due to the ease of mobility restrictions, the percentages increased to 258% and 31%, respectively.

For the company’s domestic network, Ng affirmed that they have restored 80 to 90% of the pre-pandemic capacity level. The company has, likewise, increased its weekly flights. On the other hand, PAL’s international capacity stood at 60% but has continuously been improving its flights from the Philippines to destinations in North America, Australia, the Middle East, and other portions of Asia.

The company aims to regain traction in the airline industry by soon expanding its fleet of 75 aircraft. PAL’s parent firm, PAL Holdings, Inc., has posted a net income of ₱3.56 billion during the first half. A significant comeback from its ₱16.55-billion loss during the same period in 2021. Its revenues grew by more than threefold to ₱57.37 billion.

Source: Inquirer