United Kingdom
United States
Asia Pacific
Philippine Airlines posts first half profit
Monday, 07 Aug, 2022
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Philippine Airlines posted a record first half profit with net income at $71 million. It generated revenue of $1.1 billion which representing a 258% jump, PAL Holdings said.
It marks the first profitable half-year result for the airline since well before the pandemic, in 2016.
Its operating expenses were nearly $1 billion including $380 million of ‘significantly higher fuel prices’ PAL said in its filing.
PAL not long ago exited Chapter 11 Bankruptcy in the US after restructuring and ssecuring fresh funding of $500 million.
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