Philippine Airlines Inc. (PAL) has confirmed its commitment to strengthening its global footprint and enhancing its competitiveness in international aviation. During the annual stockholders meeting held on May 29, the Board announced positive financial results for 2024, discussing the formal appointments of Richard Nuttall as President and Carlos Luis Fernandez as Executive Vice-President and COO.

Key Remarks

• Lucio C. Tan, PAL’s Chair and CEO, emphasized the importance of financial stability through disciplined management and strategic direction. He expressed confidence that with the newly bolstered leadership team, the airline is positioned to tackle the competitive global market.
• Lucio C. Tan III, President of PAL Holdings Inc., highlighted that Philippine Airlines achieved a net margin of 5%, exceeding the global industry average.

Financial Overview

• The airline reported a net income of $151.1 million, with operating income reaching $314.4 million.
• For Q1 2025, PAL maintained profitability, recording a net income of $77 million and operating income of $75 million.
• PAL executed 110,867 flights, transporting 15.6 million passengers across various domestic and international routes.

Future Developments

• PAL plans to enhance its fleet with the acquisition of nine Airbus A350-1000 long-range aircraft, the first of which is expected to arrive by year-end.
• The airline is expanding nonstop routes and forming new partnerships to boost its connectivity and enhance customer access to more destinations.