Asia, Australia routes still most profitable for PAL in 2016
ASIA and Australia remained the most profitable routes for Philippine Airlines last year.
The annual report of the Lucio C. Tan-led carrier submitted to the Philippine Stock Exchange showed that for the last three years, its Asia and Australia operations accounted for bulk of its revenues, in terms of the routes it operates.
In 2016, the routes contributed 39% of the total revenues, although slightly lower than its contribution of 39.4% in 2015 and 2014’s 41.9% contribution.
Following Asia and Oceania in terms of revenue contribution by route, PAL Holdings, Inc. -- which operates Philippine Airlines and PAL Express -- said 27% came from its Transpacific operations (from 28.6% in 2015); 8.8% from Middle East (from 9.4%); while 2.5% came from its Europe operations (from 2.1%).
The remaining 22.7% came from PAL’s domestic operations, which last year increased its contribution from the 20.5% recorded in the preceding year.
PAL operated 296 departures per week out of Manila, Cebu and Kalibo to 10 countries in Asia and seven in Oceania.
Its annual report showed the flag carrier flew 35 times a week each to Hong Kong and Seoul; 32 times a week to Singapore; 28 times a week to Tokyo (Narita); 21 times a week to Osaka; 18 times a week to Bangkok; 14 times a week to Tokyo (Haneda); and 11 times a week to Busan.
PAL also mounted flights 10 times a week each to Nagoya, Saigon, and Taipei; eight times a week to Beijing; seven times a week each to Fukuoka, Jakarta, Shanghai, and Xiamen; six times a week to Bali; 5 times a week each to Macau and Guangzhou (Canton); and four times a week to Quanzhou (Jinjiang).
In Australia, PAL operates seven times weekly to Sydney; three times weekly to Melbourne; four times weekly service to Darwin onward Brisbane and back; and four times weekly to Cairns onward Auckland and back. The flag carrier also has a thrice a week operation to Port Moresby in Papua New Guinea.
PAL carried 13.35 million passengers last year, slightly lower than the 13.5 million projection but higher from than the 11.9 million ferried n 2015.
This year, PAL looks to ferry 15 million passengers 2017 with new routes and increased flight frequencies.
PAL Holdings saw its profit drop by 38.8% to P3.59 billion last year from P5.87 billion on the back of higher expenses and a one-time gain from an asset sale in 2015 even if its revenue increased in 2016. -- Imee Charlee C. Delavin