PAL Group reports USD410m net loss in 1H2020

17 August, 2020

PAL Group reported (14-Aug-2020) the following financial highlights:

  • Three months ended 30-Jun-2020:
    • Revenue: PHP4747 million (USD93.7 million), -89% year-on-year;
      • Passenger: PHP2246 million (USD44.4 million), -94%;
      • Cargo: PHP2324 million (USD45.9 million), +1%;
      • Ancillary: PHP175.2 million (USD3.5 million), -94%;
    • Costs: PHP13,538 million (USD267.3 million), -67%;
    • Net profit (loss): (PHP11,463 million) (USD226.4 million), compared to a loss of PHP2280 million in p-c-p;
  • Six months ended 30-Jun-2020:
    • Revenue: PHP36,820 million (USD727.1 million), -55%
      • Passenger: PHP29,260 million (USD577.8 million), -59%;
      • Cargo: PHP4217 million (USD83.3 million), -6%;
      • Ancillary: PHP3338 million (USD65.9 million), -40%;
    • Costs: PHP52,163 million (USD1 billion), -33%;
      • Fuel: PHP15,632 million (USD308.7 million), -37%;
      • Depreciation and amortisation: PHP12,126 million (USD239.5 million), -4%;
      • Repairs and maintenance: PHP6456 million (USD127.5 million), -34%;
      • Labour: PHP5726 million (USD113.1 million), -21%;
    • Net profit (loss): (PHP20,747 million) (USD409.7 million), compared to a loss of PHP2981 million in p-c-p;
    • Total assets: PHP303,049 million (USD6 billion);
    • Cash and cash equivalents: PHP1960 million (USD38.7 million);
    • Total liabilities: PHP302,496 million (USD6 billion). [more - original PR]