PAL Holdings Inc. said total comprehensive loss declined to P1.05 billion in January to June from the P4.62-billion loss it reports in the same period last year. PAL said in the second quarter alone, it posted a comprehensive loss of P150.6 million, a reversal of the total comprehensive income P1.9 billion a year ago. Total revenues in the first half grew 17.7 percent to P67.76 billion from P57.57 billion a year ago. Total expenses in the six-month period increased 32.5 percent to P52.31 billion. “This was primarily due to higher expenses related to flying operations, maintenance, aircraft and traffic servicing, passenger service, reservation and sales and general and administrative expenses,” PAL Holdings said.

Source: The Standard August 14, 2017 11:37 UTC