PHILIPPINE AIRLINES (PAL), operated by PAL Holdings, Inc., said its net income rose by 6% to $160 million in 2025, supported by higher revenues.

“Our 2025 results validate PAL’s successful transition from post-pandemic recovery to sustainable, long-term growth… Despite an industry-wide softening of passenger yields, we successfully defended our top line through disciplined revenue and network management,” PAL President Richard Nuttall said in a media release on Tuesday.

The airline said its revenues increased by 3% to $3.22 billion in 2025 from $3.13 billion in 2024.

Passenger revenue remained the main contributor, reaching $2.73 billion, as PAL carried 16.3 million passengers during the year.

PAL increased its total capacity, measured in available seat kilometers, by 3.3% to 46.19 billion from 44.74 billion in 2024.

Passenger load factor slipped to 78.7% in 2025 from 79.1% a year earlier.

Ancillary and cargo revenues reached $301.2 million and $165 million, respectively. The airline attributed the increase in ancillary revenues to higher volumes of seat upgrades, while cargo growth was driven by higher volumes.

Operating expenses rose by 6.3% to nearly $3 billion, reflecting an increase in flights, higher maintenance costs, and other operating expenses related to its Manila operations.

Last year, PAL advanced its fleet revitalization program by retrofitting three A321ceo aircraft and taking delivery of two additional A320-200s to strengthen its domestic network.

The airline is refurbishing 18 Airbus A321ceo aircraft, which are expected to operate across Asia by 2027, including routes to Tokyo (Haneda and Narita), Osaka, Jakarta, Bali, and Guam starting this year, and other Asian destinations by 2026-2027.

PAL plans to roll out three refurbished aircraft this year, nine in 2026, and six in 2027.

“These fleet investments and ongoing cabin reconfigurations reinforce PAL’s long-term growth strategy and position the airline to expand capacity, enhance passenger experience, and support network growth as it enters 2026,” it said.

PAL also said it is strengthening its regional position after being recognized by Cirium as the most punctual airline in Asia Pacific.

“To navigate significant cost pressures, we are aggressively driving internal efficiencies. Simultaneously, we are heavily investing across our end-to-end passenger journey, particularly in continuously improving our On-Time Performance (OTP), to deliver a reliable and seamless customer experience anchored on the world-class service and genuine care that define Philippine Airlines,” Mr. Nuttall said.

Shares in PAL Holdings rose by 16 centavos, or 4.72%, to close at P3.55 each. — Ashley Erika O. Jose

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