PAL Holdings Inc., the parent company of flag carrier Philippine Airlines , posted a 30% decline in its earnings in the first half of 2024 because of higher expenditures related to its fleet expansion and increased operations.In a disclosure to the Philippine Stock Exchange on Friday, PAL Holdings reported a total comprehensive income of P9.5 billion, down from P13.5 billion in the same period last year.Total revenues stood at P90.9 billion, up 4% from P87.4 billion year-on-year.
The flag carrier said its expansion initiative is in line with the post-pandemic overall growth in air travel, as Ninoy Aquino International Airport has seen 13% growth in passenger volume.
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