PAL Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 11, 2023 at 07:57 am IST
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PAL Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was PHP 45,238.31 million compared to PHP 33,740.45 million a year ago. Net income was PHP 6,231.6 million compared to PHP 2,471.8 million a year ago. Basic earnings per share from continuing operations was PHP 0.537 compared to PHP 0.213 a year ago. Diluted earnings per share from continuing operations was PHP 0.537 compared to PHP 0.213 a year ago.
For the six months, revenue was PHP 87,446.49 million compared to PHP 57,365.38 million a year ago. Net income was PHP 10,885.09 million compared to PHP 3,555.43 million a year ago. Basic earnings per share from continuing operations was PHP 0.937 compared to PHP 0.306 a year ago. Diluted earnings per share from continuing operations was PHP 0.937 compared to PHP 0.306 a year ago.
PAL Holdings, Inc. is a Philippines-based holding company. The Company is primarily engaged in air transport of passengers and cargo within the Philippines and between the Philippines and several international destinations. The Company operates through its two major subsidiaries: Philippine Airlines, Inc. (PAL) and Air Philippines Corporation (APC). PAL is the national flag carrier of the Philippines, and its principal activity is to provide air transportation for passengers and cargo within and outside the Philippines. PAL route network covers approximately 64 overseas and domestic destinations. Its fleet consists of aircraft such as the Boeing 777 along with the Airbus A350 and A330 for long-haul routes and the A320/A321 family for regional and domestic routes. APC is primarily engaged in the business of air transportation for the carriage of passengers and cargo within and outside the Philippines. APC is doing business under the name and style of Philippine Airlines or PAL Express.