PAL optimistic about coming year
Philippine Airlines expects another good year in 2018 on the back of a booming tourism industry.
“We hope 2018 will be another good year in terms of growth. As mentioned by IATA [International Air Transport Association], the Philippines and the Asia Pacific region is really a huge growth area. One third of the flying customers will be coming from this region, Asia Pacific region where Philippines is a part of.
We just hope that the government will continue to support our initiatives to have better infrastructure,” said Jaime J. Bautista, president and COO of PAL.
Bautista said PAL grew its traffic by more than 12 percent on strong demand for domestic and international travel.
“I think tourist arrivals will improve next year. We’re expecting that there would be more than a million Chinese visitors next year from a little over 600,00 or less than 700,000. This will result to more than a million tourists from China,” he said.
The airline sees passenger volume hitting 16.5 million to 17 million next year from the expected 15 million this year.
Parent firm PAL Holdings Inc.incurred a total comprehensive loss of P1.05 billion in the first half owing to higher expenses and fuel costs. This was a sharp turnaround from the P4.61 billion profit reported in the same period a year ago.
The Lucio Tan-led airline earlier said it was likely to end in the red this year due to the settlement of its P6 billion liabilities to the government.