Southeast Asia’s largest budget carrier has consolidated its Philippine operation two years after local unit AirAsia Inc. acquired home grown airline ZestAir in 2013.
Philippines AirAsia Inc. has replaced the AirAsia Zest brand following the approval by the Securities and Exchange Commission in September and the Civil Aviation Authority of the Philippines and Civil Aeronautics Board this month
“Efficient service to our guests and safety are at the heart of everything we do in Philippines AirAsia. We are here to provide only the best value and world-class service that every Filipino deserves,” Philippines AirAsia chief executive Joy Cañeba said.
The airline has 927 regular employees after the transition into a single operating certificate in September. Captain Dexter Commendador was also recently appointed chief operating officer.
Philippines AirAsia also announced promotional sale for its international and domestic flights to/from Manila, Davao, Cebu, Tagbilaran (Bohol), Puerto Princesa (Palawan), Kalibo(Boracay), Tacloban, Hong Kong, Macau, for as low as P1,299, all-in and one-way only.
The booking period is between December 7 and December 13, while the travel period is now until June 30, 2016.
Malaysia’s Air Asia, through AA International, owns 40 percent of Philippines’ Air Asia Inc., while Filipinos Marriane Hontiveros, Michael Romero, Antonio Cojuangco and Alfredo Yao hold the balance of 60 percent.
Cañeba earlier said the company planned to lease five A320 aircraft from Malaysia’s AirAsia Berhad, which would be deployed in China and South Korea.
She added the company’s planned IPO would be moved to the first quarter of 2018 from the original target of 2017.
“The IPO will definitely happen,” Cañeba said, adding the company planned to raise $200 million.
Philippines Air Asia incurred a net loss of P777 million in the April-to-June period, down 40 percent from P1.3 billion in the same three months of last year.
The company’s revenue during the period rose 6 percent to P2.3 billion from last year’s P2.2 billion.
The airline attributed the higher revenue to a 6-percent increase in passenger traffic to 976,381 this year from 924,155 passengers last year.
Load factor expanded to 80 percent from 77 percent on year.
Source: Darwin G. Amojelar, http://thestandard.com.ph