Philippine Airlines is planning to offload its four non-operational Bombardier DHC 8-300s with the expected sale proceeds to be invested into new-generation aircraft.
Speaking to Business World, Stanley K. Ng, President and Chief Operating Officer, PAL said: “The airline currently sees these inactive aircraft as a dead asset, and the plan is to liquidate them to invest in new aircraft or further airline digitization. “It has been there for a while. Those are the old-generation Bombardiers. We are still negotiating with some of the buyers, but I don’t think there’s a definite timeline as of the moment.”
Although the sale of these four aircraft will not raise sizable funds for the carrier, the airline is planning to reactivate 75 aircraft back into its fleet within the year, with positive outlooks for the airline balance books for the rest of the year.
For Q1 of 2023, the airline recorded a net income of $82 million as compared to $19 million in 2022, the airline has noted that its current booking sheet has quadrupled in income compared to 2022.
Philippines Airlines revenues have risen by over 78%, which has seen passenger numbers double to over 3.4 million passengers in March quarter.