FLAG carrier Philippine Airlines said its net income in the first quarter of the year dropped because the government did not approve its petition to impose a fuel surcharge. PAL reported a comprehensive net loss of $129 million last year against profit of $86 million in 2016. We have to update this number considering the price of fuel has gone up from January to April,” Bautista added. Bautista noted that the recent $13 increase in fuel cost per barrel would mean $143 million in additional costs for PAL given the amount of fuel it consumes in a year. “We have complied with all labor regulations.

Source: Manila Times May 31, 2018 16:49 UTC