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PAL registers 63% increase in earnings.
(From Philippine Daily Inquirer)
Byline: Elizabeth L. Sanchez
PHILIPPINE AIRLINES, THE COUNtrys flag carrier, posted a 63 percent growth in net earnings in its last fiscal year ending March 31, 2006, a company report to the Securities and Exchange Commission showed.
This was attributed to higher passenger revenue.
PALs net earnings rose to $28.7 million in fiscal year 2005-2006 from $17.6 million in the previous year, when the airline posted a turnaround from a net loss of $11.8 million in its fiscal year 2004-2005.
PAL said it would consider a public offering if it would be able to sustain its profitability by another year. …
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