Home » Maritime » Cebu Pacific expects 20% growth in 2010 volume

BUDGET airline Cebu Pacific is projecting a rosier 2010 after posting double-digit growth in cargo volume last year.

“We are anticipating a 20% increase in our cargo volume this year to be propelled by the domestic cargo sector,” Cebu Pacific cargo sales and services manager Edward Rico Cuenca told PortCalls.

“The cargoes will come mainly from the top airports of the country such as Davao, General Santos, Cebu and Manila,” he said. “In the regional market, we are looking at increasing our share to 15% while we do not expect anything from the long-haul market.”

The airline said it is maintaining competitive rates, aggressively marketing its services and opening new routes to attract more clients.

Earlier, JG Summit Holdings, Inc — the mother unit of Cebu Pacific — said it plans to raise around P12 billion ($262 million) from an initial public offering (IPO) of its airline unit to fund the purchase of more aircraft.

The company will offer more than 125 million new common shares at a maximum price of P95 per share.

JG Summit has long been planning an IPO for Cebu Pacific but had to push back the offer due to volatile market conditions due to the global economic crisis.

 

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