Southeast Asian Airlines reports operating profit, net loss in 2009

Southeast Asian Airlines (Seair) President, Avelino Zapanta, stated the carrier reported an operating profit for the 12 months ended 31-Dec-2009, but continued to register a net loss last year (Business Mirror, 13-Apr-2010). No figures were disclosed. Seair reported a 15.5% decline in passenger numbers to 184,145 with a load factor of 73% in 2009. The carrier added the Manila-Caticlan sector remains one of its strongest routes.

Southeast Asian Airlines: "Although we have an operating income in 2009, we are still down in terms of bottom line last year. Everybody lost, net income-wise. In 2008, we faced a fuel crisis [that affected] our profitability. In terms of operating income, we were able to do positively, unlike in 2008 when we were not even able to [post] a positive operating income," Avelino Zapanta, President. Source: Business Mirror, 13-Apr-2010.