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Philippine Airlines' parent reports deep losses in 2QFY2012

22-Nov-2011 12:00 PM

Philippine Airlines' parent, PAL Holdings revenue down 1% – financial highlights for three months ended 30-Sep2-011 (according to Philippine Financial Reporting Standards):

  • Revenue: USD414.5 million, -1.3% year-on-year;
  • Costs: USD453.6 million, +15.7%;
  • Operating profit (loss): (USD39.0 million), compared to a profit of USD28.1 million in p-c-p;
  • Net profit (loss): (USD33.2 million), compared to a profit of USD19.5 million in p-c-p;
  • Total assets: USD1706 million, +1.8% compared to period ended 31-Mar-2011;
  • Cash and cash equivalents and available for sale investments: USD73.5 million, -29.9% compared to period ended 31-Mar-2011;
  • Total liabilities: USD1632 million, +5.2% compared to period ended 31-Mar-2011. [more – original PR]

*Based on the conversion rate at USD1 = PHP43.31