PAL's parent PAL Holdings Inc. reported yesterday that its net income fell by more than half to P6.76 billion between January and September, from P15.16 billion a year ago.
PAL was hit by a duo of financial setbacks that led to the profit slide, with its revenue slipping by two percent to P132.45 billion and expenses going up by nine percent to P120.09 billion.
The airline took a four-percent dip in its passenger earnings to P115.66 billion in the nine months to September, from P120.08 billion a year earlier.
PAL has flown 11.7 million passengers so far this year, signaling that air travel demand is well and steady.
This story is from the November 13, 2024 edition of The Philippine Star.
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This story is from the November 13, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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