- Revenue: USD420.4 million, +4.7% year-on-year;
- Costs: USD459.7 million, +22.6%;
- Fuel: USD190.8 million, +33.9%;
- Net profit (loss): (USD39.4 million), compared to a loss of USD26.7 million in p-c-p.
Philippine Airlines net loss widens in 2QFY2012
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Southeast Asia aviation outlook: passenger growth accelerates, led by Vietnam, Myanmar and Malaysia
Southeast Asia’s aviation market recorded healthy growth in 2016, with passenger traffic expanding faster than the global average across nearly every country in the region. Six of Southeast Asia’s 10 countries had growth in or near the double digits, led by Vietnam and Myanmar. Seven countries had growth equal to, or higher than, in 2015.
Southeast Asia should continue to experience rapid growth in 2017 and beyond. Vietnam and Myanmar will likely again lead the pack in 2017, joined by Malaysia. The Philippines should experience growth of approximately 10% for the third consecutive year, also putting it towards the top of the pack.
However, overcapacity remains a long term concern, pressuring yields and profitability. The average profit margin of the Southeast Asian airline sector significantly lagged the global average in 2016, and this trend will likely continue in 2017.
Caticlan Airport: capacity doubles with expansion from AirAsia, Cebu Pacific and Philippine Airlines
Capacity at Caticlan Airport in the Philippines has quickly doubled following the opening of a runway extension enabling narrowbody jet operations. Capacity at Caticlan will approach, and could exceed, 40,000 weekly seats in the coming months, compared to 18,000 weekly seats a year ago.
Jet operations began at Caticlan in Nov-2016 after Philippine authorities approved the use of a runway extension. The new owners of the airport, San Miguel, also plan to open a new terminal by early 2018, which will be capable of handling international flights.
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