PAL reports 48% net income growth for Q2

Philippine Airlines (PAL) reported a 48% increase in net income for the April to June period, marking its 15th consecutive profitable quarter.

The airline's second-quarter earnings rose to $60 million with total revenues climbing 6% to $831 million and operating income increasing by 10% to $71 million.

PAL carried 4.4 million passengers during the quarter, a 9% increase from the previous year, and cargo revenue increased 13% to $2 million as it transported 51,200 tons of cargo.

Operating expenses rose by 5% to $761 million due to higher airport and rental charges, third-party contract costs, and depreciation, although fuel expenses decreased by 11%. PAL also spent on pre-delivery payments for aircraft on order and major maintenance activities.

PAL President Richard Nuttall emphasized the airline's commitment to maintaining financial discipline and operational integrity while delivering an exceptional travel experience for its customers.

The carrier expects to introduce new aircraft including its first Airbus A350-1000 by the end of 2025, with deliveries of retrofitted Airbus A321ceo aircraft with upgraded cabins in October.