Philippine Airlines' parent reports deep losses in 2QFY2012

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