May 18, 2014

PAL Holdings booked 18% revenue increase in Q1

Aviation Updates Philippines - After reporting a 250 million loss last year, PAL Holdings Inc. reported an 18.3% increase in revenues. It was due to the increasing number of passengers from Philippine Airlines' newly launched international destinations.

The Philippine Stock Exchange (PSE) said that PAL Holdings' revenues reached 21.65 billion from the booked 18.31 billion in the same quarter last year.

PAL Holdings' net loss amounted to 931.28 million in the first quarter of 2014 from 1.25 billion in the same time last year. Meanwhile, the operating revenues of Philippine Airlines grew by 16.6%.

Furthermore, PAL Holdings booked a 1.23 billion increase in lease charges with the arrival of six Airbus A321, eight A330s, a Boeing 777 aircraft, as well as two A330 and A321 engines on operating leases starting August.
Philippine Airlines Airbus A330-343X (PHOTO) Dn280 - Airliners.net

Fuel costs increased to 1.86 billion due to increasing prices of fuel and the additional of aircraft. The retirement of the Boeing 747s may help Philippine Airlines to minimize fuel expenses.

After the United States - Federal Aviation Administration (US-FAA) upgraded our safety rating to category one, the airline used its Boeing 777-300ER to Los Angeles flying daily.

Ramon Ang also announced to use their Boeing 777s to San Francisco in July following the last flight of the Boeing 747 on June 30 flying the Manila-San Francisco route. A one-time Manila-Xiamen B747 service is also being planned by Philippine Airlines.

The delivery of the newest plane of PAL, the Airbus A330-300 High Gross Weight (HGW) variant was fitted by the new Business Class. The aircraft will fly to Abu Dhabi, Bangkok, Hong Kong, Nagoya, Tokyo-Haneda, and Seoul throughout the year.
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