PAL Group loss before tax narrows in 2Q2018

    PAL Group reported (10-Aug-2018) the following financial highlights:

    • Three months ended 30-Jun-2018:
      • Revenue: PHP38,342 million (USD730.3 million), +13.9% year-on-year;
        • Passenger: PHP33,076 million (USD630.0 million), +14.2%;
        • Cargo: PHP2533 million (USD48.2 million), +22.3%;
        • Ancillary: PHP2683 million (USD51.1 million), +2.5%;
      • Costs: PHP38,672 million (USD736.6 million), +16.4%;
      • Profit (loss) before tax: (PHP437.8 million) (USD8.3 million), compared to a loss of PHP778.6 million in p-c-p;
      • Net profit (loss): (PHP173.5 million) (USD3.3 million), compared to a loss of PHP145.4 million in p-c-p;
    • Six months ended 30-Jun-2018:
      • Revenue: PHP75,132 million (USD1445 million), +13.3%;
        • Passenger: PHP65,120 million (USD1252 million), +14.3%;
        • Cargo: PHP4789 million (USD92.1 million), +23.5%;
        • Ancillary: PHP5114 million (USD98.3 million), -3.7%;
      • Costs: PHP75,571 million (USD1453 million), +15.2%;
        • Fuel: PHP25,034 million (USD481.4 million), +28.0%;
        • Repairs and maintenance: PHP9117 million (USD175.3 million), -0.3%;
        • Labour: PHP7212 million (USD138.7 million), +9.3%;
      • Profit (loss) before tax: (PHP1367 million) (USD26.3 million), compared to a loss of PHP778.6 million in p-c-p;
      • Net profit (loss): (PHP973.1 million) (USD18.7 million), compared to a loss of PHP896.2 million in p-c-p;
      • Total assets: PHP195,569 million (USD3760 million);
      • Cash and cash equivalents: PHP10,879 million (USD209.2 million);
      • Total liabilities: PHP183,894 million (USD3536 million). [more – original PR]

    *Based on the average conversion rate at PHP1 = USD0.019047 for 2Q2018
    *Based on the average conversion rate at PHP1 = USD0.019228 for 1H2018