PHILIPPINE Airlines through parent firm PAL Holding Inc on Tuesday reported a net income of $13 million or P812 million and operating income of $27 million or P1.6 billion in the third quarter of 2024.
PAL posted its 11th consecutive quarters of positive financial results, since its emergence from the pandemic restructuring.
As of September, PAL carried 11.7 million passengers.
Year-to-date, PAL has generated a net income of $135 million or P8 billion, with a net operating income of $209 million P12 billion for the first nine months of 2024.
“The latest net income report reflects our ongoing focus on investments to ensure higher level products and services for our customers – building up our fleet, upgrading our cabins, rolling out digital innovations and refining a high-performance culture for our teams,” said Captain Stanley Ng, PAL president and chief operating officer.
Capital expenditures increased to $263 million or P15 billion with a substantial portion dedicated to major maintenance requirements of its aircraft and engines and enhancements in the cabin to reinforce operational integrity and ensure a well differentiated quality service for its customers.
