Posted on 09:56 PM, September 28, 2010
BusinessWorld
BUDGET carrier Cebu Pacific said yesterday it remained the country’s top airline in the first half, beating Lucio C. Tan-led Philippine Airlines (PAL) in domestic and international operations.
New routes and an improved fleet will allow the Gokongwei-led airline to maintain its standing for the rest of the year, an official said.
“Based on the Philippine Civil Aviation Board’s official report covering the period of January to June 2010, Cebu Pacific flew 5.096 million passengers for combined domestic and international traffic, 214,416 passengers more than Philippine Airlines,” Cebu Pacific said.
Flag carrier PAL carried 4,882,471 passengers; Air Philippines Express flew 667,686; Zest Air, formerly known as Asian Spirit, had 623,529 passengers; and Seair flew 132,638, it added.
“Our continued expansion in Asia and in the Philippines [and] our trademark low fares [have] stimulated travel and tourism,” Candice A. Iyog, vice-president for marketing and distribution of Cebu Pacific, said in the same statement.
“It also enabled affordable and accessible business travel opportunities for many small and medium enterprises,” she added.
In the first half, Cebu Pacific said it cornered 48.7% of the domestic flight market.
The company attributed growth in its international passenger base to the addition of flights to Osaka, Seoul (Incheon), Singapore, Hong Kong, Shanghai, and Macau.
“We expect to further boost our combined domestic and international traffic in the last quarter of the year as we take delivery of three brand-new Airbus A320 aircraft,” Ms. Iyog said.
“These aircraft will be used to mount additional flights to Kota Kinabalu, Taipei, Kuala Lumpur, Jakarta and Seoul,” she added.
Cebu Air, the owner and operator of Cebu Pacific, will list in the local bourse next month. A primary offer of 15% to 16% of shares should raise $75-80 million, while a secondary offer by JG Summit Holdings, Inc., the firm’s major stockholder, should raise an additional $400 million to $500 million.
The amount Cebu Air will raise from the initial public offering will be used to make a down payment on planes it will acquire this year until 2014.
Cebu Pacific said it operates the youngest aircraft fleet in the country with 10 Airbus A319, 11 Airbus A320 and 8 ATR 72-500 aircraft and will take delivery of three brand new A320 aircraft in the last quarter.
It also claims to operate “the most extensive network in the country with 33 domestic and 16 international destinations.”
Cebu Pacific reported P23.3 billion in revenues and P2.1 billion in profits in 2009.
In contrast, PAL has been locked in labor disputes in the past few months, forcing the flag carrier to cancel and merge flights and cut destinations.
Officials of PAL were not immediately available for comment. --
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