Passenger numbers grew by a staggering 156% compared to the same time last year, with Philippine Airlines (PAL) carrying 3.4 million customers in the first quarter.
In line with the increased flying and higher fuel costs, operating expenses for Q1 2023 increased by 48% to $641.7 million, compared to $432.8 million year-on-year. PAL posted a Q1 operating income of $135.2 million and a total comprehensive income of $108.2 million.
The operating income is a "substantial improvement" from the $33.8 million reported by PAL in Q1 last year, which the airline said comes from the "continuing strength of the recovery of air travel." During the first quarter, PAL reintroduced routes from the Philippines to several cities in mainland China and launched nonstop flights to Perth Airport (PER), the capital city airport of Western Australia.