Rising demand and restructuring changes are paying off for Philippine Airlines

Premium Analysis

Philippine Airlines (PAL) has boosted its domestic and international capacity significantly in the months since the government reopened borders, which helped the airline return to profitability in its most recent quarters.

Also helping the airline's financial performance is its recent restructuring. PAL was hit hard by the onset of the pandemic, and like many other Southeast Asian airlines, it had to undertake restructuring under the protection of bankruptcy court.

But PAL's pre-packaged restructuring was quicker and less painful than most, enabling it to emerge with a healthier cost structure and balance sheet.

Although market conditions are still far from normalised, the airline's results and revised strategy are promising signs for its post-pandemic outlook.

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