FLAG CARRIER. Philippine Airlines president and COO Stanley Ng (seated, middle) answers questions from the media in a conference at the Century Park Hotel in Manila on Tuesday (April 2, 2024), with PAL officer-in-charge, executive vice president and general counsel Carlos Luis Fernandez, and senior vice president and chief financial officer Anna Isabel Bengzon beside him. The company said it has set a USD450-million capital expenditure this year. (PNA photo by Kris M. Crismundo)
MANILA – Philippine Airlines (PAL) has earmarked USD450 million (PHP25.4 billion) for its capital expenditure (capex) this year.
In a media conference in Manila on Tuesday, PAL senior vice president and chief financial officer Anna Isabel Bengzon said 80 percent of the capex this year will be spent on aircraft.
“It includes the refurbishment of the A321ceos, on the aircraft maintenance and the upgrades we’re doing on the aircraft, including the purchase of the new aircraft. There are delivery payments that’s already included with it,” Bengzon said.
In the same press event, PAL officer-in-charge executive vice president and general counsel Carlos Luis Fernandez mentioned that the company is investing in 22 new aircraft set for delivery from 2025 to 2029.
Fernandez said these additions to their fleet include nine A350-1000 for its non-stop flights to North America and other long-haul overseas destinations as well as 13 A321neo that will serve PAL’s regional routes to Asia and Australia.
He added that PAL will also be reconfiguring 18 A321ceo aircraft.
Aside from launching its first non-stop flight to Seattle, PAL president and chief operating officer Stanley Ng said the airline will be reviving its routes between Cebu and Osaka as well as Manila and Sapporo.
He added that PAL remains interested in reopening flights to Europe.
“That’s always our aspiration to go back to Europe and we believe that we’ll really provide convenience as well as business opportunities for the Philippines and Europe,” Ng said, adding that the company is currently exploring with some European countries.
“I would say about 10 of them are their wishlist is for Philippine Airlines to go back to Europe,” he added.
The possible destinations in Europe include Paris; Brussels, following the visit of President Ferdinand R. Marcos Jr. to Belgium last month; and a city in Italy. (PNA)
