PAL Holdings, Inc. (PSE: PAL) announced on July 21, 2024 that its subsidiary, Philippine Airlines (PAL), has signed an agreement with GE Aerospace to purchase engines for its new fleet of Boeing 787-10 Dreamliner aircraft.
What Does This Mean?
Think of it like this: When you buy a new toy car, it needs batteries to make it run. In the same way, when Philippine Airlines orders new airplanes (the Boeing 787-10 Dreamliners), those planes need engines to fly. PAL has chosen to buy engines called “GEnx-1B” from a company called GE Aerospace.
About the Deal
According to the disclosure filed with the Philippine Securities and Exchange Commission, this engine deal is connected to PAL’s plan to add new Boeing 787-10 Dreamliner aircraft to its fleet. The 787-10 Dreamliner is one of the newest and most modern airplanes available, known for being fuel-efficient and comfortable for passengers.
Understanding PAL Holdings
PAL Holdings, Inc. is the parent company that owns Philippine Airlines, the country’s flag carrier and oldest airline. When PAL Holdings files regulatory reports, it includes important announcements from Philippine Airlines because PAL is its subsidiary (meaning PAL Holdings owns it).
The company is headquartered at Lucio K. Tan Jr. Center, PAL Gate 5, Andrews Avenue in Pasay City. As of this filing, PAL Holdings has 26,852,106,890 common shares outstanding.
Why Engines Matter
Airplane engines are one of the most expensive and important parts of an aircraft. They determine how far a plane can fly, how much fuel it uses, and how much it costs to operate. By choosing GE Aerospace’s GEnx-1B engines, Philippine Airlines is making a decision that will affect its operations for many years to come.
The disclosure was signed by Ma. Cecilia L. Pesayco, Corporate Secretary of PAL Holdings, Inc.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
