PAL revenues grow by 5.9% in H1 2026

Flag carrier Philippine Airlines (PAL) posted a 5.9% growth in revenues to $1.746 billion in the first half of 2026.

In a disclosure to the Philippine Stock Exchange on Thursday, PAL said top line gains were offset by a $219.5-million increase in fuel expenses driven by the Middle East conflict.

Higher expenses resulted in a net loss of $25.1 million for the period, from a net income of
$136.7 million in the first half of 2025.

“The Middle East conflict has created significant near-term pressure on our fuel costs, and our second-quarter results reflect that impact. At the same time, our first-half performance demonstrates PAL's underlying resilience,” said Richard Nuttall, president of PAL.

“We moved quickly on fare and network adjustments, protected our liquidity, and continued investing in the fleet and partnerships that will strengthen our long-term competitiveness. International demand remains strong, our cost discipline is holding, and we enter the second half with the flexibility to manage through this disruption while staying focused on our strategic plan,” said Nuttall.

For the second quarter alone, the airline posted a net loss of $103.6 million, a reversal from a net income $60.2 million in the same period last year as fuel costs increased 88.2% year-on-year to $422.9 million. — Ted Cordero/BM, GMA News