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THREE years ago, paying less than $900 for a round trip ticket to the Philippines from Los Angeles with months in advance would have been a bargain.
Nowadays, balikbayans can get a last minute ticket to the Philippines for $900.
With the economy still in a recession, now is the time to travel and get great travel deals, said April Tiamzon of Las Islas Travel Agency.
The coupons and advertisements say it all. The past year, Philippine Airlines (PAL) has been offering deals of $500 round trip airfare, if you paid for the ticket in advance. Other airlines are offering round trip airfare and other travel deals for $700.This means that balikbayans are paying for cheaper airfare than any time the past five years.
"The down economy," said Tiamzon. "People have lost their jobs and collecting unemployment but more of them are still traveling and airlines have responded with cheaper rates."
Like most airlines, PAL has been affected by the global economic crisis. The rise of jet fuel has pulled the flag carrier’s margin down, according to the Business Mirror.
The Business Mirror reported PAL has already posted a net loss $301 million. The airline reported a net profit $30.6 million in the past financial year ending on March 31, 2008, down from $130.5 million in the previous year.
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