PAL narrows losses

Dino D'Amore
By Dino D'Amore November 17, 2013 20:42

PAL narrows losses

PAL Holdings, parent of flag carrier Philippine Airlines and budget carrier PAL Express, has narrowed its losses in the first six months of the fiscal year ending September 30, thanks to foreign exchange gains and lower expenses.

PAL Holdings consolidated total comprehensive loss amounted to P1.55 billion for the period ended September 30, 2013, down 4.8% from a P1.63-billion loss a year earlier.

Total revenues declined by 5.9% to P36.57 billion due to a drop in passenger volume and lower passenger yield. Expenses were steady at P38.77 billion.

Dino D'Amore
By Dino D'Amore November 17, 2013 20:42
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