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PAL posts P13.6 billion record net income; to invest in fleet

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="CAPTION: A Philippine Airlines plane is seen at the background as a man uses his phone at the arrival area of the Ninoy Aquino International Airport (NAIA) Terminal 1 in Pasay City on May 24, 2021. Jonathan Cellona, ABS-CBN News/File" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/tvpatrol/01/03/20210524-naia-pal-jc.jpg"/><figcaption>A Philippine Airlines plane is seen at the background as a man uses his phone at the arrival area of the Ninoy Aquino International Airport (NAIA) Terminal 1 in Pasay City on May 24, 2021.<em> Jonathan Cellona, ABS-CBN News/File</em></figcaption></figure></div><p>MANILA -- Philippine Airlines (PAL) on Friday said it will buy new aircraft to boost its fleet after it posted a record net income of P13.6 billion in the first half of 2023.</p><p>In a statement, PAL said it is purchasing 9 Airbus A350-1000 long-range<br/>jetliners, valued at more than $3.2 billion or P176.6 billion, based on the list price of $366.5 million per aircraft.</p><p>PAL also said it wants to hire more customer care and contact center<br/>agents, and roll out a new customer relations management system within the year to provide more personalized self-service options for customers.</p><p>“The latest positive financial results enable us to build a better, stronger and more agile Philippine Airlines that creates greater value for our customers, and we are grateful for their continuing support and patronage,” said PAL chief operating officer Stanley Ng.</p><p>PAL Holdings President Lucio C. Tan III, for his part, said he is pleased to see the benefits of the sacrifices the company took over the past few years.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/08/09/23/pal-eyes-earnings-hitting-pre-pandemic-levels-by-2025">PAL eyes earnings to return to pre-pandemic levels by 2025</a></li></ul><p>&quot;PAL is on a recovery track and is now in a position to carry out major product and digital transformation initiatives in order to grow amid a more competitive and challenging aviation industry,&quot; he added.</p><p>PAL said it carried 7 million passengers on over 50,400 flights from January to June. Passenger revenues rose to $1.4 billion, or P78.2 billion.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/video/business/08/09/23/pals-stanley-ng-not-that-worried-about-united-airlines">PAL&#x27;s Stanley Ng &#x27;not that worried&#x27; about upcoming United Airlines MNL-SFO service</a></li></ul><div><strong> RELATED STORY: </strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2758531" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Philippine Airlines said it will buy new aircraft to boost its fleet after it posted a record net income in the first half of 2023. 