PAL Holdings reports net loss of USD1.5bn in 2020

PAL Holdings reported (17-Jun-2021) the following financial highlights for the 12 months ended 31-Dec-2020:

• Revenue: PHP55,264 million (USD1.1 billion), -64.2% year-on-year;
  • Passenger: PHP41,860 million (USD843.8 million), -68.8%;
  • Cargo: PHP9413 million (USD189.7 million), +0.4%;
  • Ancillary: PHP3980 million (USD80.2 million), -62.8%;
• Costs: PHP81,841 million (USD1.7 billion), -46.0%;
  • Fuel: PHP18,726 million (USD377.5 million), -61.1%;
  • Repairs and maintenance: PHP11,990 million (USD241.7 million), -40.2%;
  • Labour: PHP8669 million (USD174.8 million), -42.2%;
• Profit before income tax (loss): (PHP65,870 million) (USD1.3 billion), compared to a loss of PHP11,200 million in p-c-p;
• Net profit (loss): (PHP73,084 million) (USD1.5 billion), compared to a loss of PHP9703 million in p-c-p;
• Total assets: PHP227,899 million (USD4.6 billion);
  • Cash and cash equivalents: PHP2358 million (USD47.5 million);
• Total liabilities: PHP296,006 million (USD6.0 billion). [more - original PR]

*Based on the average conversion rate at PHP1 = USD0.02016