Philippine Airlines reported a net income of $78.55 million for the first quarter of 2026, marking a 2.6 percent increase from the prior year. Total revenues rose 9.7 percent to $895.7 million, driven by steady travel demand and robust cargo performance.
Passenger traffic increased 6.1 percent to 4.3 million passengers, boosting passenger revenues by 8.7 percent to $759.65 million. Cargo revenues surged 22.5 percent to $43.21 million amid tight global capacity, while ancillary revenues reached $83.56 million. The airline expanded flight operations by 8.4 percent during the period.
Operating profit stood at $101.85 million, though total operating expenses climbed 7.1 percent to $793 million. Flying operations, the largest cost area, rose 9 percent to $447 million due to higher flight activity, late-quarter fuel price pressures from Middle East tensions, and increased depreciation from fleet expansion.
The carrier avoided major flight disruptions but faces ongoing volatility as regional conflicts escalate, prompting adjustments to its network and costs to safeguard margins.