Philippine Airlines (PAL) is set to expand its global reach with the arrival of new long-haul aircraft by the end of 2024, strengthening its capacity for international operations and enhancing the travel experience for its passengers.
PAL Holdings Inc. president Lucio Tan III confirmed during the company’s stockholders’ meeting that deliveries of Airbus A350-1000 units will begin later this year. These wide-body aircraft, ordered in 2023, can seat up to 380 passengers and fly up to 18,000 kilometers nonstop. The move supports the flag carrier’s plans to increase long-haul services, particularly to key cities on the East Coast of the United States and Canada.
Aside from the A350-1000s, PAL is expecting 13 new Airbus A321neo aircraft beginning 2026. The airline is also upgrading several of its current planes with new seating, improved in-flight entertainment systems, and better Wi-Fi.
To temporarily boost its operational fleet, PAL has leased two aircraft from European firm Wamos Air under a five-year agreement. As of now, the airline operates 79 aircraft—still shy of its pre-pandemic fleet of 91.
Strengthening its financial position, PAL Holdings recently welcomed Oasis Investments II Master Fund Ltd. as a new shareholder. The Cayman Islands-based investor purchased a 5.76-percent stake—amounting to 1.55 billion shares—for $41.22 million. The proceeds will be used to fund long-term strategic projects.
On the financial front, PAL posted a strong first-quarter performance, with net income rising 20 percent to P4.33 billion and revenues increasing by 2.5 percent to P46.9 billion. Passenger volume also saw a 5 percent uptick, reaching 4.1 million.
Domestically, the airline launched new routes from Manila to Cauayan and Cebu to Catarman earlier this year. This month, it began direct flights from Cebu to Ho Chi Minh City, Vietnam, further broadening its regional network.
