DEBT-SADDLED shipping firm Negros Navigation Company (NENACO) said it is implementing measures that would gradually turn the tide and bring the company back to stability by year end.
NENACO deputy general manager Jose Manuel Mapa said the company is looking at strategies to boost its freight and passage divisions. Earlier, NENACO president Conrado Carballo expressed optimism that the company will be able to recover by 2011.
The shipping line is under a rehabilitation program. Total actual and opportunity losses excluding exemplary damages from February 9 to May 5 is estimated at P76.4 million, NENACO noted.
Among the strategies to boost revenue is the launch of the second wave of Express Cargo On-board. Initially launched middle of last year, the program aims to add cargo capacity by converting unused passenger spaces.
“This is one of our priority projects for the freight side of the business. The first time we launched it, the result was very substantial,” he noted.
Another measure, he said, is the continued focus on high-paying cargoes, or improving the cargo mix of the company. On the passenger side, the company launched this week its “Sulit Tipid” promo, which offers an almost 50% discount on selected routes.
For a limited period, the economy rate for Manila-Bacolod is only P999, for example. Also under the promo, the economy rate from Bacolod or Iloilo to any destination in Northern Mindanao is only P777 from the previous rate of P1,505.
“Sakay Ulit”, another promo to boost passenger traffic, meanwhile entitles NENACO patrons to a 20% discount.
“If you show your old ticket, which does not exceed a maximum of two weeks, you will get the discount,” Mapa said.