Biz Buzz: New airline landing soon at Clark
Clark International Airport has been welcoming new airlines to its runway to boost operations and achieve the goal of increasing passenger volume at the Pampanga gateway.
Recently, budget carrier Jetstar Asia announced it would launch direct flights between Clark and Singapore starting June. Boutique airline Sunlight Air, meanwhile, just relocated its hub to Pampanga from Ninoy Aquino International Airport earlier this month.
Noel Manankil, CEO and president of Clark airport operator Luzon International Premiere Airport Development Corp. (Lipad), said another airline would soon land again at the airport.
While Lipad has yet to disclose which airline, Biz Buzz learned this new player is expected to start operations by the end of second quarter.
Now, the questions are: Which new airline will set up operations at the Clark airport? What routes will it provide? Let’s see! —Tyrone Jasper C. Piad
PAL eyes flights to Europe
Speaking of airline expansion, Philippine Airlines (PAL) has sustained its upward momentum since completing its voluntary Chapter 11 bankruptcy process in 2021. And it appears the flag carrier is eager to further spread its wings amid the resurgence of air travel.
In a briefing last week, PAL chief Stanley Ng said they were studying closely the resumption of flights to key cities in Europe, including Paris and Brussels.
“The team is currently looking at which will make the most sense,” Ng said.
This was not the first time PAL has expressed this sentiment. To recall, Ng said last year that Italy was “one of the top countries in mind” when it comes to establishing their European network. The PAL chief even set a 2025 target launch for this route.
While PAL has yet to return to Europe, it has made its link to the West stronger with the new Manila-Seattle route set to start this October. In US, flag carrier also services flights to Los Angeles, San Francisco, New York, Honolulu and Guam. — Tyrone Jasper C. Piad
MWC takes over La Mesa Ecopark
East Zone concessionaire Manila Water Co. Inc. will take over the management of the La Mesa Ecopark located in Quezon City, ahead of the Philippine Environment Month and World Environment Day in June.
The Metropolitan Waterworks and Sewerage System, along with the Quezon City local government, handed over the administration of this public park in the metropolis to revive the area.
“The La Mesa Ecopark will be a place to commune with nature without traveling far. Aligning with global conservation principles, each visit will be an immersion and appreciation of biodiversity in the city,” Manila Water President Jocot de Dios said.
Manila Water said rehabilitating the La Mesa Ecopark will be done in phases, offering experiential learning on watershed protection and climate action.
The first phase involves the improvement of different areas within the park including the Eco Academy Pavilion, the Museum, Team Building Activity Centers. Picnic Areas, Souvenir Shop, Viewing Deck and swimming pool will also be refurbished.
“All these are expected to be completed before the gates open to the public,” it said.
Even as the gates open by June, rehabilitation works covered by phases two and three will continue. Manila Water will also reinforce environmental awareness attractions to provide visitors with a memorable experience and inspire them to be good stewards of the environment.
Manila Water hopes their efforts will remind all visitors that communing with the environment is “our way of helping conserve it and our waters.” — Jordeene B. Lagare
Welcome, SM!
It has been weeks since Edgar Saavedra’s Citicore Renewable Energy Corp. (CREC) and Sy-led SM Investments Corp. (SMIC) announced their P5-billion share sale deal, but the saga is just unfolding.
In a stock exchange filing on Monday, Citicore Energy REIT (CREIT), with SMIC now owning 28.79 percent of its shares, welcomed two new directors from the country’s largest conglomerate.
Ian Jason Aguirre, vice president for portfolio investments at SMIC, was elected director after Jez dela Cruz resigned. Dela Cruz will remain CREIT’s treasurer.
At the same time, Elizabeth Anne Uychaco, SMIC senior vice president and Belle Corp. vice chair, will be one of three independent directors on CREIT’s board.
This comes after CREC trimmed the size of its initial public offering (IPO) to just P7.97 billion from P12.9 billion, with SMIC’s share purchase filling in the P5-billion gap.
And after much delay, CREC said it would list its shares on the main board of the Philippine Stock Exchange on May 31.
This means it will be dethroned as the country’s first IPO this year, with OceanaGold Philippines scheduled on May 7.
Of course, we’re hoping that this won’t dampen CREC’s IPO prospects, delay or no. —MEG J. ADONIS
