PAL Holdings reports USD1.5bn net loss for 2020

PAL Holdings reported (17-Jun-2021) revenues of PHP55.3 billion (USD1.1 billion), expenses of PHP81.8 billion (USD1.7 billion) and a net comprehensive loss of PHP73 billion (USD1.5 billion) for 2020. The company reduced expenses by 46% year-on-year, but this was offset by a 64% decline in revenues, reflecting the impact of the COVID-19 pandemic. [more - original PR]