Philippine Airlines reported a "better than expected" $34.5 million profit in the first fiscal quarter ended June 30, double the $17.2 million earned in the year-ago period. crediting its "ability to capitalize on strong passenger demand during this peak travel quarter" for the result. President Jaime Bautista said the improvement "validates our decision to exit receivership as soon as possible." PAL informed shareholders three weeks ago that it planned to exit receivership this year after ...

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