Philippine Airlines April-June net profit down 21.29 per cent

Philippine Airlines saw its net profit fall 21.29 per cent from a year earlier to $35.5 million in the first three months of the company's fiscal year, Dow Jones Newswires reported.

The Philippines' largest airline by fleet size saw declines in both traffic and passenger yield - the average fare paid per mile - due to a sluggish global economy and fears over the swine influenza outbreak, it added.

PAL reported its revenues were down 12 per cent from a year earlier to $394 million in the April to June period "due mainly to the 25 per cent decrease in passenger revenues to $95 million, as passenger traffic and yields continued to decline."

Expenses dropped 11 per cent to $358.5 million because of lower fuel prices, Dow Jones said.