PHL airlines optimistic about recovery despite headwinds

Local airlines expect the recovery momentum to continue next year, as the industry is better positioned to weather potential external headwinds. “We are on track to restore our flights to 90% of pre-pandemic levels,” Philippine Airlines said. PAL, which completed its voluntary Chapter 11 proceedings last year, saw its financial performance significantly improve. It posted a P6.8b attributable profit in the first nine months of 2022, a turnaround from the P21.8b net loss a year ago. For 2023, PAL plans to reinforce its position as the Philippines’ only full-service network airline by restoring its network to mainland China, once it reopens to international travel. The flag carrier also plans to expand its code-sharing and interline partnerships with other airlines to give PAL passengers access to more overseas destinations and better connections. PAL said it also aims to sustain and grow its cargo business in order to tap opportunities in the air freight market. At the same time, the Lucio Tan-led airline targets to continue its digital transformation by introducing new products for customers and better in-house systems to boost efficiency. The flag carrier noted that the Civil Aeronautics Board’s (CAB) move to lower the applicable fuel surcharge for domestic and international flights to Level 7 in January 2023, from Level 8 implemented in November and December, will “increase travel appetite and boost air travel.”<br/>