Philippine Airlines plans service to Indian destination

Philippine Airlines Inc (PAL) is targeting a net profit of 18 million dollars for its current fiscal year ending March 27, sharply lower than the preceding year's 28.74 million dollars, due to high fuel costs.
PAL has set a 1.2-billion dollars revenue target this fiscal year, nearly flat compared to last year's actual revenue of 1.24 billion dollars, with passenger volumes also seen weak on continuing terrorism concerns.
To strengthen competitiveness, PAL is revamping its fleet and has contracted for up to 2 new Airbus A32-family aircraft, with the first one scheduled for delivery next month. Deliveries of the firm orders and leased units will be completed by 28.
The airline will also increase its presence in fast-growing travel markets such as China and India.
PAL plans to increase flight frequencies to Beijing from the current four times weekly to daily, and said an inaugural service to an Indian destination is now being studied.
30/08/06 Erik de la Cruz/Xinhua Financial News Service/INQ7.net, Philippines

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