Cebu Pacific plans to defer its PHP25.7 billion IPO until after the Philippines’ national elections on 10-May-2010 (Reuters/abs-cbnNEWS.com, 31-Mar-2010). The carrier had planned to launch a roadshow on 05-Apr-2010, with shares to be listed from 03-May-2010. New dates were not disclosed.
Cebu Pacific to defer IPO to after the Philippines’ national elections in May-2010
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Cebu Pacific Air reconsiders Melbourne under Tigerair Australia partnership as Sydney route improves
Cebu Pacific Air is again looking at expanding in the Australia market by launching flights to Melbourne. Efforts in recent months to improve Cebu Pacific’s performance in Sydney, which was launched in 2014, are bearing fruit and the airline is confident with Melbourne it can stimulate further demand in the Philippines-Australia market.
The LCC initially added Melbourne to its network plan in 2015 after the Philippines and Australia forged an extended air services agreement. But Cebu Pacific subsequently decided to shelve plans to launch Melbourne, and has instead been using additional A330 capacity to expand in its domestic and regional international market.
Melbourne is now back on the agenda and is the next priority – leapfrogging Honolulu – for Cebu Pacific’s long haul operation. A new partnership with Melbourne-based Tigerair Australia is a key driver in making Manila-Melbourne a viable route, along with the anticipated rapid growth in Australian visitor numbers to the Philippines.
Southeast Asia LCC fleet expansion to reaccelerate in 2017 after rare single digit growth in 2016
Southeast Asia’s low cost airline fleet grew by only 7% in 2016, representing the slowest growth in several years. The region’s two main groups, AirAsia and Lion, both slowed their growth significantly, with AirAsia slightly reducing its Southeast Asian fleet in 2016.
Southeast Asian LCCs ended 2016 with a fleet of 623 aircraft – up a modest 41 aircraft compared to the beginning of the year. The same group of 21 airlines added 67 aircraft in 2015 and 61 aircraft in 2014.
Several airlines responded to overcapacity, which peaked in 2014 following a period of overzealous capacity expansion, by deferring aircraft deliveries. Overcapacity continues to persist in several Southeast Asian markets, but some LCCs are reaccelerating expansion in 2017. Given the sector’s huge order book it is likely 2016 will represent the low point in Southeast Asian LCC fleet growth.