The region’s oldest carrier cited stabilizing travel demand after postpandemic bump in 2023 and the industry-wide price increases on services covering maintenance, ground handling, airport and passenger service charges.
Its operating income dropped by 12 percent to $118.4 million during the period.
Demand was still robust as revenues increased by 6 percent to $826 million, propelled by a 13.6 percent rise in passenger volume, with passenger revenues reaching $720.9 million.
PAL will be the first carrier to link the Philippines and the US Pacific Northwest with nonstop flights between Manila and Seattle on Oct. 2, 2024.
“However, supply chain issues remain and continue to put a strain on our operations, but we are determined to address these challenges,” Ng added.
PAL is scheduled to reintroduce flights between Clark and Basco, Batanes beginning July this year, in line with its move to reopen more routes out of Clark and grow its network from Central Luzon.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
