BIZ BUZZ: AirAsia bets bigger on PH
Budget carrier AirAsia is betting on the Philippines again. And it’s betting big this time.
Finance Secretary Ralph Recto met with AirAsia CEO Anthony Fernandes to discuss strategic opportunities for the airline’s expansion in the Philippines.
It was one of the several meetings that Recto had on the sidelines of the World Economic Forum (WEF) in Davos-Klosters, Switzerland, from Jan. 20 to Jan. 24.
The Department of Finance (DOF) said AirAsia plans to establish a maintenance, repair and operations (MRO) facility in the country, which is expected to generate more jobs.
The investment will also position the Philippines “as a regional hub for aviation services,” the DOF added.
For AirAsia, such an undertaking would meet its need for better aircraft availability as the aviation sector grappled with a global supply chain crunch amid the lack of spare parts. Jets have been parked for a longer period of time, resulting in the cancellation or suspension of flights and leaving passengers stranded in airports.
It’s a win-win situation for all.
