March 22, 2018, 8:19 am
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Airline seeks 5-year extension of license

Low-cost carrier Philippines AirAsia, Inc. (PAA), formerly Zest Airways, Inc., is seeking approval for the renewal of its license for another five years to continue operating domestic and international flights.  

PAA has filed withthe Civil Aeronautics Board (CAB) a petition for renewal of its Certificate of Public Convenience and Necessity (CPCN) to operate domestic and international scheduled air transportation services. 

Capt. Dexter Comendador, PAA chief executive officer, said in a text message the application to renew its CPCN was submitted early this month as its license will expire next month.

 “We renew every five years,” Comendador added.   

He said the CAB hearing is next week and the airline gets automatic one month extension if the regulatory agency takes time to issue a decision.   

CAB records show the application is set for hearing on May 25, and a pre-marking and comparison of documents to be presented during the hearing was held last May 17.

 “Parties opposing the said application shall file its manifestation not later than the pre-marking and comparison of documents on May 17, 2017 and its written opposition on or before the date of hearing, furnishing a copy of the same to the applicant or appear at the hearing with such evidence as may be proper under the premises,” the CAB said. 

 The renewal of PAA’s CPCN license comes amid plans to pursue an initial public offering in the fourth quarter of the year, where it eyes to raise around $200 million to finance its fleet expansion.

 PAA is 40 percent owned by Southeast Asia’s biggest budget carrier, Malaysia- based AirAsia Berhad, which invested in the company in 2013.

 PAA recently resumed operations at Clark International Airport and plans to fly again its previous routes out of Clark going to Taiwan, Hong Kong, Macau, Kuala Lumpur and hopefully, Japan.

 The airline operates a fleet of 17 aircraft, with domestic and international flights out of hubs in Manila, Cebu and Kalibo.  

It operates several flights to/from Manila, Davao, Cebu, Kalibo, Caticlan(Boracay), Tacloban, Tagbilaran (Bohol), Puerto Princesa (Palawan) and Clark in the Philippines,with international flights to/from Shanghai, Taipei, Incheon (Seoul), Hong Kong, Macau, Kuala Lumpur, Kota Kinabalu and Singapore. 

PAA is a wholly owned subsidiary of AirAsia Inc., which is a joint venture company among Filipino investors Antonio Cojuangco, former ambassador Alfredo Yao, Michael Romero and Marianne Hontiveros, and Malaysia’s AirAsia Berhad.
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