PAL Soars On The Wings Of Record-High 2023 Net Income, Passenger Numbers

The country's flag carrier, Philippine Airlines (PAL), reported a banner 2023 marked by its strongest financial performance to date.

PAL disclosed to the Philippine Stock Exchange (PSE) that it achieved a record net income of USD379 million (PHP21 billion) in 2023, representing a 92% increase from 2022. I Image: Philippine Airlines Facebook

PAL disclosed to the Philippine Stock Exchange (PSE) that it achieved a record net income of USD379 million (PHP21 billion) in 2023, representing a 92% increase from 2022.

PAL operated 105,294 flights in 2023, a 36% growth from 2022, and carried 14.7 million passengers, a 58% increase from 2022. Lucio C. Tan III, President & CEO of PAL Holdings, credited the positive performance to increased operations and passenger traffic.

PAL revealed plans to capitalize on resources to strengthen its global and local network, upgrade its aircraft fleet, and introduce new products and services.

Captain Stanley K. Ng, President and COO of PAL, emphasized the company's commitment to customer care and collaborative efforts with government authorities and service partners to enhance operations.

PAL operates scheduled nonstop flights from hubs in Manila, Cebu, Clark, and Davao to destinations across Asia, North America, Australia, and the Middle East.

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