Philippines News: FREE

Get an edge on the Philippine Stock Market in this comprehensive tool for Filipinos and foreign investors.
Get it on Google Play

Monday, April 14, 2014

Cebu Pacific forecasts passenger count hitting more than 17 million this year

The operator of Cebu Pacific expects to carry more than 17 million passengers this year, including the traffic of recently acquired Tigerair Philippines.

Lance Y. Gokongwei, president of Cebu Air Inc (CEB) told reporters last Friday that Cebu Pacific alone would carry an excess of 15 million passengers this year.

He said growth this year would come from both the domestic and international passage businesses.

Load factor at Tigerair improved after CEB took over last month, Gokongwei said, referring to the number of seats taken per flight.

"Since our entry on March 20, we already see dramatic improvements in their load factor because of the distribution that we have created for them. So it’s really working together," he said.

Last month, the shareholders of Singapore's Tiger Airways Holdings Ltd and the Civil Aeronautics Board separately approved the 100 percent acquisition of Tigerair by CEB. The transaction was valued at $15 million.

Gokongwei said Cebu Pacific is helping Tigerair make its product available through the former’s website.

Furthermore, Cebu Pacific will assign four Airbus A320s to Tigerair for its operations.

Source: Interaksyon

No comments:

Post a Comment