15-Mar-2010 12:06 PM

Philippine Airlines forecast revenues to fall to USD1.4-1.5 billion for year ending 31-Mar-2010

Philippine Airlines forecasts revenues will fall to USD1.4-1.5 billion for the 12 months ending 31-Mar-2010, compared to USD1.6 billion in FY2008-09, due to weak international demand (Manila Times, 15-Mar-2010). However, PAL stated it is starting to see an improvement in demand, and expects its international and domestic promotions to boost earnings in the next financial year, commencing 01-Apr-2010. PAL plans to offer 300,000 seats under a promotional sale to run over the entirety of the year. PAL also plans to decide over the next 12 months if it will exercise options for a further four new B777-300ER aircraft, depending on whether the US FAA upgrades The Philippines' safety category.

Philippine Airlines:
“We are looking to grow the market. We’re seeing an improvement on the international…and the domestic market is expected to continue growing,” Richard Miller, Chief Commercial Group Adviser. Source: Manila Times, 15-Mar-2010.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More