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PAL Holdings losses ₱11.8 billion in 9 months

Philippine Airlines Boeing 747-400 N753PR
(PHOTO) Wong Chi Lam
Aviation Updates Philippines - PAL Holdings, the parent of Philippine Airlines Inc., is reporting a net loss of 11.8 Billion in 9 Months. The 9th month ended in March 31, 2013.

The net loss was widened by 332 percent from the net loss of 2.74 Billion in 2012.

Philippine Airlines' revenue was steady at 55.97 Billion in the first 9 Months of 2013-2014 (May-Mar), compared to 55.68 Billion net profit in 2012.

Passenger traffic dropped to about 5 million from 7.6 million, making passenger revenue drop by 3 percent.

However, cargo revenue increased by 13.7 percent.

This month, Philippine Airlines recently announced to add flights to the United States when Federal Aviation Administration confirmed to bring us back to Category 1 from Category 2 in 2009 - 2013. Philippine Airlines also changed the aircraft on some US routes to Boeing 777-300ER.

While using their Boeing 777 to the US, Philippine Airlines was expecting to save $160 million, $100 million for the fuel (1 year) and $60 million for the maintenance.

Philippine Airlines will increase frequency to some US flights. They would increase Los Angeles flights to 14x weekly, Honolulu to 7x weekly, and Guam to 14x weekly. 

Philippine Airlines currently operates 26 weekly flights to the United States, including Los Angeles, San Francisco, Honolulu and Guam.

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