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Philippine Airlines reports net loss for nine months
November 5th 2026
Philippine Airlines (PAL) said its revenue grew 4.0% to US$2.50 billion in the first nine months of 2026. Read More » However, a US$339.4 million increase in fuel expense, driven by the conflict in the Middle East, resulted in a net loss of US$159.0 million, compared with net income of US$158.7 million a year earlier.
"Our nine-month results demonstrate the underlying resilience of Philippine Airlines in an operating environment marked by exceptionally high fuel costs and continuing geopolitical uncertainty. We have responded with disciplined capacity deployment, stronger revenue management, targeted commercial initiatives and tight control of controllable costs," said Richard Nuttall, President of Philippine Airlines. "While the sharp increase in fuel prices has weighed significantly on profitability, demand for travel remains healthy, and our revenue performance shows that our commercial strategy is gaining traction. We remain focused on protecting liquidity, strengthening the business and positioning PAL for a return to stronger profitability as operating conditions normalize," he added.
PAL carried 11.6 million passengers in the first nine months. Passenger revenue rose 1.9% to US$2.08 billion, despite the airline operating fewer flights to manage higher fuel costs. PAL said more travelers also added extras to their trips, such as premium seat upgrades and prepaid baggage, lifting ancillary revenue by 6.0% to US$235.1 million. More passengers are also booking directly with PAL, especially during its Anniversary, Independence, Flash, and Ultimate Seat Sales.
