PAL returns to profitability as operating income hits $297.2 million in 2022

This is the first positive full-year operating income achieved by Philippine Airlines since 2019, which the flag carrier attributes to revenge travel.

MANILA, Philippines – Philippine Airlines logged a full-year operating income of $297.2 million in 2022 – the first time the flag carrier has entered positive territory since 2019.

These figures are a sharp increase from 2021’s operating loss of $98.1 million and revenue of $1.21 billion. The airline’s total operating expenses for 2022 reached $2.27 billion, higher by $960.3 million from 2021 due to the rise in the number of flights operated and the increase in jet fuel prices, which represented the highest expense item for PAL.

The airline also reopened several routes to mainland China, with Shanghai, Beijing, Xiamen, and Guangzhou currently in its roster of destinations.

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