Who owns zest air

Thanks you for this amazing blog, The time you have gather to put this information in blog. It's a pleasure to read the blog in this platform. Write for us Business. Darryl Wilson 2. AirAsia Philippines is one step closer to consolidating ownership of AirAsia Zest after obtaining the approval of the Philippine Senate to acquire majority control of Zest Airways, which currently operates under the AirAsia Zest brand. Once the transaction is completed AirAsia Zest will rebrand and operate under AirAsia Philippines creating a single brand in the country for Southeast Asia's largest low-cost airline.

Earlier that year, the House Committee on Franchise also approved the purchase of controlling interest in the carrier. The company will also require the approval of the Securities and Exchange Commission and the Civil Aeronautics Board for transfer of ownership.

Zest Airways is currently majority owned by Alfredo Yao. Caneba said they will launch the rebranded airline — AirAsia Zest — on October MANILA, Philippines — After Japan and the Philippines successfully negotiated the increase in flights between their destinations, Philippine carriers are scrambling for a share of the additional flights.

Both countries agreed to increase the maximum flight frequencies for the airlines of each country to per week, based on the recently concluded air talks in Tokyo last September The maximum used to be flights per week. Both countries also agreed that the traffic between airports outside congested Manila and Haneda are unlimited. Based on the petition filed before the Civil Aeronautics Board CAB , the following local carriers filed their request for a total of flight entitlements.

Citing its intention to fly to Haneda on March 30, , PAL said it is asking for 14 coefficients or 7 weekly flights during daytime and another 7 during night and early morning. PAL Express, meanwhile, asked regulators for a total of 35 coefficients. Of which, 14 coefficients will be allotted to its Manila-Haneda route; another 14 for its Manila-Narita ; seven for its Cebu-Narita route. Cebu Pacific, which asked for 80 coefficients, also intends to mount flights to Haneda with 7 coefficients, equivalent to 7 weekly flights, beginning February SEAir wants to utilize 56 coefficients.

Arcilla added that the expansion of traffic rights will further support growth and expansion of the Philippines-Japan market. Other Philippine carriers are expected to enter the market.

AirAsia is attempting to turn around its struggling operations in the Philippines by closing its base at Manila alternative airport Clark and focusing on expansion at Manila Ninoy Aquino International Airport using slots held by new partner Zest Air.

But AirAsia will still need to overcome intense competition from market leader Cebu Pacific , which has a much stronger position at Manila, as well as the Philippine Airlines Group and Tigerair Philippines. Philippines AirAsia PAA launched services on Mar, ending a rocky pre-launch phase which included a costly delay in the certification process. But Puerto Princesa was dropped after only eight months and capacity to Davao and Kalibo was reduced.

The network changes from April and latter part of along with the increased focus on international operations failed to yield significant improvements. In all five of the full quarters the carrier has operated, the losses have ranged from MYR20 million to MY26 million although PAA has seen an improvement in load factors and an increase in passenger numbers.

With the losses at PAA continuing despite the network changes, it became obvious that carving out a profitable and sustainable niche at Clark was a near impossible mission. From the beginning competitors and sceptics doubted the PAA business plan would succeed as carriers have struggled over the years to stimulate demand at Clark given the large supply of LCC capacity at more convenient Manila International. AirAsia repeatedly expressed confidence in Clark, particularly for the international market, and in early remained optimistic stating that a new shuttle bus service from the local airport authority would improve connectivity with central Manila.

But once an opportunity emerged to establish a presence and potentially move entirely to Manila International, which AirAsia was initially unable to access due to slot restrictions, the AirAsia Group and PAA pounced.

Zest has continued and will continue to operate separately from PAA but plans to take on the AirAsia brand by the end of Zest-operated flights are already sold on the AirAsia website and Zest has been working in recent months to adopt the standard AirAsia product.

Initially the separate PAA operation remained at Clark. But with the Clark hub struggling financially and some expansion opportunities available at Manila as Zest is not fully utilizing its slots, PAA decided to shift entirely out of Clark.

The AirAsia website shows that PAA has already stopped operating Clark-Kuala Lumpur, which it served with one daily flight, although its sister Malaysian carrier will continue to serve the route with three weekly flights.

These are expected to operate only for the Christmas season with PAA operating only out of Manila from 9-Oct to Dec and again from 7-Jan Earlier, Marianne Hontiveros, chief executive of Air Asia Inc, said the airline will suspend its Kalibo and Davao flights effective October 9, with the last flight scheduled on October 8. Losses reached P70 million a day, or about P million during the four-day suspension, she said.

The initiative should come from Ambassador Alfredo Yao on how much he is willing to sell. In an interview with newsmen over the weekend, Amb. Alfredo M. For Zest-O, Yao said they are studying to expand its various food and beverage products in China and Indonesia. Yao said they are already constructing a plant in Indonesia but did not reveal how much they are investing for this facility.

However, Yao said Zest Air also hopes to develop tourist spots in Bohol, Cebu and Palawan by offering more flights to those destinations.

Zest Air is taking delivery of three Airbus s this year and another three next year, Yao said. Zest Air owns about six of the Airbus but will lease another three. Eksperto may payo sa paggamit ng 13th month pay.