PAL to acquire new turboprops

Philippine Airlines has indicated its plans to acquire new turboprop aircraft to replace old aircraft. The airline currently owns four Bombardier DHC 8-300 aircraft and five Bombardier DHC 8-400 aircraft, which it dry leased to PAL Express. PAL posted a net income of P2.71 billion in the three months to March 2016, which is a decreased of 28% compared to the year ago period. Revenue rose 4.1% to P29.12 billion from last year’s P27.98 billion. Passenger revenues rose to P24.65 billion in the first quarter from P23.09 billion in the same period last year. Cargo revenues fell 31% to P1.47