MANILA, Philippines — PAL Holdings Inc., the parent firm of flag carrier Philippine Airlines, saw its losses widen in the nine months ending September on the back of higher expenses. PAL Holdings in a stock exchange filing said total comprehensive loss from January to September expanded by 139.2 percent to P7.86 billion from P3.29 billion in the same period last year. Consolidated revenues for the nine months, however, reached P117.92 billion, 5.6 percent higher than the P111.62 billion last year. This was partly offset by the decrease in cargo revenues by 7.9 percent,” PAL Holdings said. Meanwhile, consolidated operating expenses for the nine-month period rose by 2.2 percent to P117.13 billion.

Source: Philippine Star November 15, 2019 17:03 UTC