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Philippine Airlines back in the black
by hlk Sat 23 Jul 2011, 11:49
MANILA: Philippine Airlines (PAL) said yesterday it swung back
into profit in the past fiscal year as it overcame the troubles of the
global financial crisis.
However, it warned of turbulence ahead, citing surging oil
prices, a gradual slowdown in passenger traffic and crises around the
world as key concerns.
PAL said that net profit hit US$72.5 million (RM2.1 billion) in
the 12 months to March, a huge improvement on the US$14.4 million
(RM41.62 million) loss in its previous fiscal year.
It added that revenues soared 23 per cent to US$1.67 billion (RM4.83 billion).
Looking ahead it added: “Fuel price volatility, earthquake and
tsunami in Japan and political unrest in the Middle East and North
Africa... pose a serious threat to the carrier’s fragile bottom line.”
— AFP
into profit in the past fiscal year as it overcame the troubles of the
global financial crisis.
However, it warned of turbulence ahead, citing surging oil
prices, a gradual slowdown in passenger traffic and crises around the
world as key concerns.
PAL said that net profit hit US$72.5 million (RM2.1 billion) in
the 12 months to March, a huge improvement on the US$14.4 million
(RM41.62 million) loss in its previous fiscal year.
It added that revenues soared 23 per cent to US$1.67 billion (RM4.83 billion).
Looking ahead it added: “Fuel price volatility, earthquake and
tsunami in Japan and political unrest in the Middle East and North
Africa... pose a serious threat to the carrier’s fragile bottom line.”
— AFP
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