Philippine air carriers hope to gain competitive advantage through fun
Article Abstract:
Philippine airline companies are banking on in-flight fun and games to lure passengers as the fate of the country's flag carrier Philippine Airlines remains uncertain. Cebu Pacific holds games and allows passengers to serenade fellow passengers with a Karaoke machine during flights. For its part, Air Philippines is offering special deals on its 20 routes, ranging from seasonal promotions to advance-purchase discounts. The airline is fast emerging as a key player in the local air travel industry and a popular investor choice on the Philippine Stock Exchange.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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PAL path still looks bumpy; stabilization efforts have merely begun
Article Abstract:
Philippine Airlines may have met the deadline imposed by creditors to prevent its liquidation, but its struggle for survival is far from over. CEO and controlling shareholder Lucio Tan has raised $200 million in fresh capital, its creditors' major requirement to keep the airline in business. Among the issues it has to face are the renewal of its code-sharing agreements which were suspended following its brief shutdown in 1998, the divestment of some of its operations and, more importantly, the generation of enough revenue to pay its creditors.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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Mondragon to sell stake
Article Abstract:
Mondragon International Philippines Inc intends to generate $175 million with the divestiture of 40% of its shareholdings in the Mimosa Regency Casino to a still unidentified investor. The company, which expects the deal to be completed in Aug 1999, intends to use the proceeds of the sale to settle its obligations with the government-owned Clark Development Corp, the company's landlord at the former US air base. Mondragon is also planning to sell as much as 100 million of its shares to a European casino operator.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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