Philippine Airlines' Consolidated Revenues Surge 6% To USD826 Million

Philippine Airlines (PAL), the flag carrier of the Philippines, has reported a substantial 6% increase in its consolidated revenues, reaching an impressive USD826 million for the first quarter of 2024.

The flag carrier airline of the Philippines successfully served a total of 3.8 million passengers through more than 28,000 flights. I Photo: Philippine Airlines Facebook

This notable rise in profitability can be attributed primarily to a robust 13.6% increase in passenger volume, as disclosed by PAL to the Philippine Exchange (PSE). Over the course of the quarter, the airline successfully served a total of 3.8 million passengers through more than 28,000 flights.

PAL highlighted that its passenger revenues during the first three months of the year also experienced notable growth, increasing by 5% to USD720.9 million compared to USD686.2 million in the corresponding period last year.

In a strategic move aimed at further bolstering its passenger volume, PAL is gearing up to introduce a brand-new service to Seattle, Washington in October of this year as part of its ongoing international route network expansion.

Seattle will mark PAL's sixth destination in the U.S. and the eighth in North America.

With this upcoming addition, PAL is set to become the first carrier to establish nonstop flights between the Philippines and the U.S. Pacific Northwest, connecting Manila and Seattle.

Additionally, PAL will boast the largest network of nonstop flights between the Philippines and the United States, encompassing key cities like Los Angeles, San Francisco, New York, Seattle, Honolulu, and Guam.

Moreover, PAL is actively rebuilding its domestic network, with plans to reintroduce the Clark-Basco, Batanes service in July this year.

This initiative aligns with PAL's strategy to reopen more routes out of Clark and expand its network across Central Luzon.

Capt. Stanley K. Ng, President and CEO of PAL, expressed confidence in the airline's growth strategies, stating, "Our positive bottom line confirms that we are on track with our growth strategies, in the areas of fleet growth, route network expansion, and service innovations."