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Philippine Airlines' 2Q2009 revenue down 12%

18-Aug-2009 11:15 AM

Philippine Airlines revenue down 12% - financial highlights for the three months ended 30-Jun-2009 (Times of Malta, 17-Aug-2009):

  • Revenue: USD394 million, -12% year-on-year;
  • Costs: USD358.5 million, -11%;
  • Net profit: USD35.5 million, -21.3%.

The carrier stated the decline in revenue was the result of a 25% reduction in passenger revenues to USD95 million, as passenger traffic and yield continued to decline.