{"id":22996,"date":"2014-08-20T17:09:57","date_gmt":"2014-08-20T09:09:57","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=22996"},"modified":"2014-08-20T18:06:11","modified_gmt":"2014-08-20T10:06:11","slug":"pals-net-income-makes-marked-turnaround","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/08\/20\/pals-net-income-makes-marked-turnaround\/","title":{"rendered":"PAL\u2019s net income makes marked turnaround"},"content":{"rendered":"<figure id=\"attachment_23008\" aria-describedby=\"caption-attachment-23008\" style=\"width: 230px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/08\/PAL.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-23008\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/08\/PAL.jpg\" alt=\"From the Facebook page of PAL\" width=\"230\" height=\"346\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/08\/PAL.jpg 230w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/08\/PAL-199x300.jpg 199w\" sizes=\"auto, (max-width: 230px) 100vw, 230px\" \/><\/a><figcaption id=\"caption-attachment-23008\" class=\"wp-caption-text\">From the Facebook page of PAL<\/figcaption><\/figure>\n<p>Flag carrier Philippine Airlines reported a 604 percent increase in net earnings for the month of July 2014, amounting to $11 million; as compared with the same month last year, during which net earnings reached only $1.5 million. Furthermore, earnings for the January-July 2014 period, amounting to $18.6 million, saw a reversal from the $55.2-million loss within the first seven months of 2013.<\/p>\n<p>According to the Inquirer, which acquired a copy of the airline\u2019s unaudited financial statements, the marked improvement is a result of the increase in passengers conveyed during the period, an increase in flights and routes offered, as well as a reduction in operational costs due to an increase in efficiency.<\/p>\n<p>Fuel and maintenance cost decreased to 47 percent of total expenses, compared with last year\u2019s 55 percent.<\/p>\n<p>PAL\u2019s continued positive streak has been credited by financial analysts to improvements made by the company\u2019s president and COO Ramon S. Ang to the management system. Ang\u2019s efforts, targeted at stimulating the once financially struggling and underperforming company, included modernizing the carrier\u2019s fleet of planes, increasing its flight network, concentrating on more profitable routes, innovating service, and scrupulous management of company costs, among other measures.<\/p>\n<p>All these efforts \u2013 as well factors that developed over the last two years, such as the lifting of the European flight ban on Philippine carriers and the US Federal Aviation Administration\u2019s decision to upgrade the Philippines to Category 1 status \u2013 are expected to have a continued positive impact on PAL\u2019s financial performance for the entirety of 2014.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Flag carrier Philippine Airlines reported a 604 percent increase in net earnings for the month of July 2014, amounting to &hellip;<\/p>\n","protected":false},"author":44,"featured_media":23008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1482,19],"tags":[7465],"class_list":["post-22996","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking","category-business","tag-pal-income","mauthors-angie-duarte","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/22996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=22996"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/22996\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/23008"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=22996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=22996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=22996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}