ASIA Travel Tips.com

Philippine Airlines Earns US$72.5m in 2011

Search ASIA Travel Tips .com Send to Friend ASIA Travel Tips.com Latest Travel News Monday, 25 July 2011

Philippine Airlines has reported an income of US$72.5 million for its fiscal year ended 31 March 2011, a significant turnaround over the previous year’s US$14.4 million loss.

In a filing with the Securities and Exchange Commission, PAL recognized revenues of US$1.67 billion, 23% higher than the preceding year’s figure of US$1.36 billion.

During the year, passenger and cargo traffic grew by 12.4% and 41.8% respectively as the aviation industry rebounded from the global slump the year before. Increases in passenger yields also complemented the growth in traffic volume.

Total expenses for the year totaled US$1.61 billion, up 19% from last year’s figure of US$1.35 billion. Jet fuel, which continues to be the airline’s biggest expense, rose by US$142 million or 29.9%.

During the 12-month period from April 2010 to March 2011, jet fuel prices averaged at US$102.89 per barrel compared to US$86.94 per barrel a year ago.

PAL said in a statement that it remains watchful of the year ahead as fuel prices continue the upward trend. It also noted a gradual slowdown in traffic demand especially for leisure travelers. 

See other recent news regarding: Airlines, Airports, Awards, Flights, Codeshare, FFP, Inflight, Lounges, First Class, Business Class, MICE, GDS, Rewards, Miles, Hotels, Apartments, Promotions, Spas, Yoga, Retreat, New Hotels, Traffic, Visitor Arrivals, Cruises, Free Deals, Interviews, Videos, PAL, Philippine Airlines, Philippines

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address above, or return to the Latest Travel News Asia main page to see all the latest headlines. You can also stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
     
Exclusive HD video interview with the General Manager of The Ritz-Carlton, Bali, Mr. Karim Tayach. In this HD video interview, filmed on the side lines of the AAPA Assembly of Presidents at  The Ritz-Carlton, Bali, we sat down with Ilya Gutlin President, Asia Pacific of SITA to learn more about the company and the future of air travel. Exclusive HD video interview with Mr. Luc Bollen, General Manager of The Park Lane Hong Kong, a Pullman Hotel.
The Ritz-Carlton, Bali Future of Aviation The Park Lane Hong Kong
Aviation Industry Update at AAPA 2015 in Bali.  Andrew Herdman is the Director General of the Association of Asia Pacific Airlines (AAPA) and this is the presentation he gave to a few select aviation journalists at The Ritz-Carlton, Bali on 12 November the day before the General Assembly of Presidents. Exclusive HD video interview with Air Macau's Chairman of the Board and President of Executive Committee, Mr. Zheng Yan Exclusive HD video interview with the General Manager of the JW Marriott Hotel Macau, Mr. Brian Tong.
Aviation Industry Update Air Macau's Chairman JW Marriott Macau
Exclusive HD video interview with Mr. James Mabey, Senior Vice President Development Asia Pacific for the Jumeirah Group Exclusive HD video interview with Ms. Titiya Chooto, General Manager of Anantara Siam Hotel (formerly the Four Seasons Hotel Bangkok). Exclusive HD video interview with Mr. Jonathan Wigley, Founder and CEO of one of Thailand's most successful hotel management and ownership companies.
Jumeirah Group Anantara Siam Bangkok Absolute Hotel Services
This HD video tour of Thai AirAsia X's brand new 337-seat Airbus A330-300 aircraft was filmed at Don Mueang Airport in Bangkok, Thailand on 14 May 2014 Exclusive HD video interview with Mr Wayne Mak, Managing Director of Rhombus International Hotels Group HD video of the interior and exterior of a Thai Vietjet Airbus A320-200.
Thai AirAsia X A330-300 Rhombus Int. Hotels Group Thai Vietjet A320-200
An exclusive HD video interview about the elegant Airbus A350 XWB with David Velupillai, Marketing Director for Airbus Corporate Jets at Singapore Airshow 2014 A very brief glimpse into one woman's amazing journey sailing from California to Terengganu in Malaysia ATR Demonstrates 72-600 Flight Simulator During Singapore Airshow 2014
Airbus A350 Sailing from California to Malaysia ATR Simulator
Inside Qatar Airways Boeing 787-8 Dreamliner - HD Video It takes 800 workers between 65 and 80 days to assemble, install, test, paint, furnish and deliver an Emirates Airbus A380. Showers, Bars, Lounge - The Emirates Airbus A380 Has Them All - HD Video Tour Thai Airways International Takes Delivery of Brand New Boeing 777-300ER
Qatar Airways B787 Emirates A380 Thai Airways B777-300ER
Hotel Reservations
     
     
Latest Travel News
Advertising
Advertising
© Copyright 1997 - 2016 - ASIA Travel Tips.com - All rights reserved.