PHILIPPINE AIRLINES (PAL), operated by PAL Holdings, Inc., expects passenger volume to grow by up to 20% this year.
“Between 10% and 20% increase,” Philippine Airlines President and Chief Operating Officer Stanley K. Ng told reporters on Monday.
“We have recovered some of our grounded aircraft,” he added.
For 2024, PAL Holdings recorded a total comprehensive net income of P10.01 billion, down 51% from P20.48 billion in 2023, due to lower revenues during the period.
In 2024, PAL Holdings posted P178.01 billion in revenue, a 0.62% decrease from P179.12 billion in the previous year.
Despite carrying 15 million passengers in 2024, the flag carrier said the revenue decline was primarily due to a lower load factor of 79.1%, compared to 80.8% in 2023.
This year, PAL has launched new routes and expanded existing services.
The airline is set to begin nonstop Da Nang–Manila flights by July and increase its Manila–Hanoi–Manila service to daily flights as part of its Vietnam expansion.
PAL’s expected passenger growth this year is also attributed to the utilization of its restored aircraft, Mr. Ng said.
“After the pandemic, we were down to 60-plus planes in the air. Now we’re back to 79,” he added.
In 2024, PAL announced plans to acquire at least 22 aircraft, to be delivered between 2025 and 2029.
Mr. Ng said the company hopes to receive the first delivery by yearend.
The new aircraft include nine A350-1000s and 13 A321neo (New Engine Option) jets, intended to serve the airline’s nonstop flights to North America and other overseas destinations, as well as regional routes in Asia and Australia.
Meanwhile, PAL is also planning to resume its Manila–Sapporo service, Mr. Ng said, although supply chain issues remain a constraint.
“[We are looking at] Sapporo, but there’s a challenge with the engine situation — the supply chain,” he said.
At the local bourse on Tuesday, shares in the company closed unchanged at P4.50 apiece. — Ashley Erika O. Jose
