PHILIPPINE Airlines (PAL) and Taiwanese carrier EVA Air have signed a joint freighter agreement, using EVA Air’s Boeing 747-400 or MD-11 freighter aircraft.
The joint service, intended to boost PAL’s Philippines-Taiwan freight capacity, began last month with three flights a week, with the intention to increase this to four flights weekly this month. Philippine exports to Taiwan for the first eight months of this year are US$1.38 billion compared to $1.65 billion for the whole year in 2002. Imports from Taiwan from January to August at $1.18 billion are close to the $1.22 billion for the whole of 2002. High cargo traffic between the two countries is partly attributed to the Philippines being a major manufacturing and assembly base for Taiwanese firms.SARS causes P1.09B loss to PAL
FLAG carrier Philippine Airlines (PAL) reported a loss of P1.09 billion in six months to September 30 due to the decline in the number of travellers particularly in the Asian region after the SARS outbreak. PAL earned P946.557 million during the same period last year. In a disclosure to the Securities and Exchange Commission (SEC), the company said the third quarter is usually a lean period for the industry. The company said its operating revenues totaled P9.865 billion, down 8.1% from P10.737 billion from April to September. Revenues from international flights fell to P7.659 billion from P8.749 billion while domestic flights earned P2.038 billion, lower compared with P2.077 billion earned last year. Operating costs also decreased 2.41% from P9.327 billion to P9.102 billion.
“While flying operations and depreciation expenses increased during the period, maintenance and repairs, aircraft and traffic servicing contributed to the decrease in operating expenses. This resulted in a lower net in the total operating expense of P224.6 million,” PAL said.
