PAL Doubles Capital

For Fleet Expansion



20 February 2020

Philippine Airlines Holdings has announced that stockholders of Philippine Airlines has approved the increase of the flag carrier’s authorised capital stock from P13 billion up to P30 billion (US$600 million).

According to PAL Holdings, the increase capital stock is needed to grow the company and finance acquisition of new short and long haul aircraft.

PAL President and Chief Operating Officer Gilbert Santa Maria said the airline “needs capital” to grow its business.

The airline said the increase was “part of the flag carrier’s transformation toward sustainable profitability and a higher level of competitiveness.”

Bulacan Airport Construction Still A Go

Dispel Rumors About DOF Issue

20 February 2020

The Department of Transportation (DoTr) disclosed Wednesday that Bulacan International Airport is still a go despite delay in its project implementation.

Transportation Assistant Secretary Giovanni Lopez said that while there is delay in project implementation, the delay is not yet “critical” in the construction time line.

DOTr stated that they were supposed to break ground in December or January this year but due to family matters personal to Ramon Ang, SMC President and COO, groundbreaking has to be postponed.

“The project will be completed after six years but definitely its construction will start this year,” Lopez said at a press briefing in Malacañang on Wednesday.

The project has earlier been delayed by the Department of Finance (DOF) after issues relating to material adverse government action (MAGA) provision of the contract was found. This was already resolved.

San Miguel Corporation(SMC) President and Chief Operating Officer Ramon Ang was quoted as saying they are waiving the the conditions but the contract does not stipulate the waiver expressly according to Lopez.

"SMC loans in the foreign market still requires DOF intervention as it involves big amount of money. I think DOF wants to see this money cleared first," Lopez said during the sideline.

SMC announced in December it planned to return to the onshore debt market with the establishment of a medium-term note program (MTNP) amounting to $3 billion to fund its massive infrastructure projects.

SMC has tapped six foreign banks to act as underwriters of the planned notes issuance under its $3-billion medium-term note program.

San Miguel said in a disclosure to the stock exchange it hired Australia and New Zealand Banking Group Ltd., Credit Suisse (Singapore) Ltd., DBS Bank Ltd., Mizuho Securities Asia Ltd., Standard Chartered Bank and UBS AG Singapore Branch as initial dealers.

"Perhaps DOF wants to have this credit line open by international banks so construction of the airport proceed smoothly." Lopez adds.

Lopez disclosed that if the project does not proceed as planned, the government will get compensation from SMC through its performance bond.

“In this Bulacan airport, San Miguel gave a performance bond in the amount of more or less P11 billion,” says Lopez.

Duterte Opens Sangley Airport

 Officially Opens Tomorrow

15 February 2020

Two aviation companies are set to use the Sangley Airport right after its official inauguration on February 15, the Department of Transportation (DOTr) said Friday.

DOTr Assistant Secretary Goddes Hope Libiran said Alphaland Aviation plans to transfer its Manila-Balesin flights to Sangley, with its inaugural flight taking off on Friday.

“Alphaland will have its first flight tomorrow (Friday) morning. Alphaland operates Balesin routes. Immediately after, they will transfer their operations from Manila and Clark to Sangley,” Libiran said.

Libiran said Cebgo, Cebu Pacific’s budget airline, will also transfer cargo operations at the Sangley Airport. PNA

PAL Subsidiary Wins Sangley Airport Project

Macro Asia Wins JV Partner of Cavite Prov. Government to Develop Sangley

14 February 2020



MacroAsia Corp was selected by the provincial government of Cavite as the joint venture partner for the P100 billion phase 1 development of Sangley Point International Airport Project.

The notice of award was received on Feb. 14, MacroAsia told the stock exchange.

It would take 12 to 18 months from the signing of the joint venture development agreement for the consortium to complete the detailed engineering design, MacroAsia said.

The provincial government of Cavite plans to separately bid out the operations and maintenance of the new international airport.

TSA Clears MNL

Passes Security Audit

10 February 2020

The US Transportation Security Administration (TSA) clears Ninoy Aquino International Airport (NAIA) for aviation security deficiency after it received a passing mark from the United States Department of Homeland Security (DHS).

Department of Transportation (DOTr) said TSA inspectors were “satisfied” with the improved security measures and technology being implemented at the NAIA following the latest round of security audit.

The agency said TSA inspectors commended the use of high-technology security and screening equipment being used at the airport terminals, which include dual view X-ray machines with an automatic tray return system.

The dual view X-ray machines have been deemed effective in reducing lines at security screening checkpoints.

Extensive security checks is implemented by the airport for flights to the US, Canada, Australia, and United Kingdom.

TSA Security audit covers airport and aircraft security, aviation management, landside security, passenger and baggage screening, hold baggage checks, access control, perimeter security, training of security personnel as well as quality control measures.

Office for Transportation Security (OTS) administrator Raul del Rosario said they are planning to extend increase security measures for international flights for other destinations.

Wuhan Repatriation Flight

9  February 2020