(MENAFN) Philippine carriers suffer as many of the airline companies report profit losses in the second quarter of this year, The Peninsula Qatar reported.
Decreasing passenger traffic led PAL Holdings' profits to a 32.9 percent slump in the second quarter down to USD11.4 million from the prior-year period.
Profits for Cebu Air also fell, registering a 66.7 percent decrease in Q2 compared to the same period in 2012, profits went down to USD5.86 million.
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