PH carriers lose P22B in second quarter

Airlines in the Philippines are seen to incur a combined net loss of P22 billion during a devastating second quarter as travel restrictions around the world continue to decimate passenger demand and force would-be travelers to forego trips.

Air Carriers Association of the Philippines vice president and executive director Robert Lim said the number of passengers transported by Philippine Airlines, Cebu Pacific and Air Asia Philippines likely plunged to 800,000 in April to June compared to 13.5 million in the same period last year.

Airlines have been hit brutally by the COVID-19 pandemic, forcing them to ground their aircraft and lay off workers.

Last June 3, local carriers resumed limited domestic flights after the government eased lockdown measures in and outside Metro Manila. Some loyal government units, however, refuse entry of tourists over coronavirus fears.

In its latest report, the International Air Transport Association said the global health crisis could claim 548,300 jobs in the Philippine aviation sector and cut airlines’ revenues to $4.48 billion this year.

Sent from my Samsung Galaxy smartphone.

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