Connect with us

Hi, what are you looking for?


PAL negotiating to sell four Bombardier planes

FLAG carrier Philippine Airlines (PAL) is in talks with buyers for its four non-operational Bombardier DHC 8-300 with proceeds to be used for investments in newer generation planes.

“It has been there for a while. Those are the old-generation Bombardiers. We are still negotiating with some of the buyers, but I don’t think there’s a definite timeline as of the moment,” PAL President and Chief Operating Officer Stanley K. Ng said in a chance interview last week.

Mr. Ng said the plan is to tell the aircraft as soon as possible as PAL already considers them as a dead asset.

“For me, we have to liquidate those and just invest in newer generation planes or even in digitalization,” he added.

Mr. Ng said the sale of the four planes is not expected to raise significant proceeds.

Meanwhile, the flag carrier is expecting to reactivate a total of 75 aircraft within the year.

“Before it was 98. I think there are only three to four planes that need to be reactivated. But I think next week we’ll reactivate another one. But everything will be reactivated within the year,” he said.

FIRST-QUARTER SHOWINGIn the first quarter, the airlines’ parent PAL Holdings, Inc. booked a more than four times jump in its attributable net income to P4.65 billion from P1.08 billion in 2022 as air travel recovered.

In the three months to March, PAL Holdings’ revenues rose by 78.7% to P42.21 billion from P23.62 billion last year, which it attributed to a more than double increase in the number of passengers it carried to 3.4 million.

Mr. Ng said: “Load factor is better. I think the average for international and domestic was around 80%.”

Likewise, the company recorded a 58.9% increase in its expenses to P34.68 billion from P21.83 billion booked in 2022.

When asked what is his outlook for the year, Mr. Ng said: “I think it’s positive. Right now, the outlook is positive for the rest of the year.”

“Right now, inflation is being controlled already by the Bangko Sentral ng Pilipinas. So, the inflation rate is kind of stabilizing and even the interest rates are kind of stable now. I hope that continues for the rest of the year,” he said.

“And commodity prices and fuel surcharge are going down, also making airfares more affordable for everyone,” he added.

On Friday, shares in PAL Holdings added 22 centavos or 4.17% to P5.50 apiece. — Justine Irish D. Tabile

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



BW FILE PHOTO By Keisha B. Ta-asan, Reporter THE BANGKO SENTRAL ng Pilipinas (BSP) on Thursday cut banks’ reserve requirement ratio effective June 30,...


A worker is seen inside a manufacturing plant in Sto. Tomas, Batangas, March 1, 2023. — PHILIPPINE STAR/KRIZ JOHN ROSALES MANUFACTURING OUTPUT in the...


REUTERS BAD LOANS of Philippine banks rose in April, bringing their nonperforming loan ratio to the highest in seven months, the central bank said...


SEAN YORO-UNSPLASH GLOBALSOURCE PARTNERS, Inc. kept its Philippine growth forecast for 2023 and 2024 as it lowered its inflation outlook for this year, but...


Pauline Castro, head of traffic strategy at Lazada Philippines Whether with big brands or as “nanopreneurs” managing their small shops, Lazada provides sellers with...


TOP FRONTIER Investment Holdings, Inc. has agreed to the subscription of shares by Far East Holdings Inc. valued at about P10.86 billion or an...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.