PAL HOLDINGS, INC., the operator of flag carrier Philippine Airlines (PAL), saw its second-quarter attributable net income rise by 40.51% to P3.33 billion, driven by higher passenger volumes.
“To sustain our momentum in this dynamic operating environment, we will continue to focus on generating healthy revenues, maintaining financial discipline, sustaining operational integrity and providing the kind of exemplary travel experience that our customers deserve,” PAL President Richard Nuttall told the stock exchange on Thursday.
For the second quarter, PAL posted total revenue of P46.39 billion, up by 2.81% from P45.12 billion in the comparable period a year ago.
The company’s topline for the period was mainly driven by an increase in its passenger revenue, which rose by 1.11% to P39.94 billion from P39.50 billion in the same period last year.
The flag carrier carried 4.4 million passengers for the April-to-June period, 9% higher than previously, PAL said, noting that its revenue growth was slightly tempered by slow international yields. Further, the company said it operated 29,584 flights across both international and domestic routes during the second quarter.
Its cargo business logged revenue of P4.15 billion, up by 22.52% from P3.39 billion in the same period last year.
For the second quarter, PAL said its total expenses grew by 2.74% to P42.36 billion from P41.23 billion in the same period in 2024. The company attributed the increase to higher rental charges, third-party contract costs, and depreciation, although this was partly offset by a reduction in fuel expenses amid lower global fuel prices.
For the six months ending in June, PAL’s attributable net income climbed by 28.31% to P7.66 billion from P5.97 billion in the same period last year. Combined revenues for the January-to-June period rose by 2.66% to P93.34 billion from P90.92 billion a year earlier.
The increase in second-quarter net income contributed to higher earnings for the first semester, PAL said, noting that it carried 8.47 million passengers and operated 57,598 flights during the January-to-June period.
Further, the airline is preparing to operate 22 brand-new aircraft in the next few years, starting with the delivery of the Airbus A350-1000, which will be added to PAL’s fleet by the end of the year.
PAL is also expecting the delivery of additional A350-1000s and 13 A321neo regional aircraft starting in 2026, as well as the arrival of 18 retrofitted Airbus A321ceo aircraft by October this year.
At the local bourse on Thursday, shares in the company fell by six centavos, or 1.44%, to end at P4.10 apiece. — Ashley Erika O. Jose
