Got a tip? Send it to us at manila@coconuts.co.
It sounds painful.
“Local and foreign airlines, including private aircraft and chartered planes, collectively lost an estimated USD$2 billion in revenues following the cancelation of over 1,000 flights at the Ninoy Aquino International Airport (NAIA) for the Asia-Pacific Economic Cooperation (APEC) Summit from Nov. 16 to 20,” reports Rudy Santos of Associated Press.
For local airlines, Philippine Airlines (PAL) lost an estimated USD$18.7 million (around PHP88,0199,650). PAL’s gross revenue per day is USD$7.5 million (around PHP8,237,1625).
PAL spokesperson Cielo Villaluna, however, pointed out: “We must stress, however, that the long term benefits of APEC outweigh these aforementioned losses.”
For its part, Cebu Pacific (CEB), through its corporate communications unit, said they lost an estimated PHP400 million in revenues due to flight cancellations during the APEC summit.
The report noted: “Local airline companies cancelled some 1,800 domestic and international flights from Nov. 16 to 20 following the temporary runway closures to give way to the arrival and departure of leaders of APEC member-economies.”
Airport observers added that “the cancellation of flights from Manila to other places in the country had affected tourist arrivals in the provinces.”
Photo: WikiCommons
Reader Interactions