Philippine Airlines (PAL) is looking to swing to “modest profit” this year after posting a loss of P7.1 billion in 2017.
PAL President Jaime J. Bautista told reporters after a press conference in Manila that they are expecting a turnaround this year driven by higher load factor.
“Our experience now is that we are carrying more people onboard our airplane. Our load factor has gone up to almost 80%. From last year’s 71% lang ang average sa load factor namin [From last year’s average of only 71% in load factor], but now it’s 80%. Considering there are also routes where the loads are not that good yet, yung mga bagong routes [the new routes],” he said.
“It will be a modest profit. Actually we have reduced our projected profit because the price of fuel has gone up. Kaya lang pagka [But] if the price of fuel continue to go up, and we are not able to pass on the additional costs to the passengers, we may again report a loss,” he added.
PAL said it is will be filing another application with the Civil Aeronautics Board (CAB) for higher fuel surcharge since the price of fuel continues to rise. From January to April, Mr. Bautista said fuel costs increased by $13. — Denise A. Valdez

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