July 16, 2009

Caticlan monopoly may ease Seair’s revenue losses

So despite the drop in passenger traffic in the first five months of the year, Zapanta said its revenues only dipped by 18 percent. “At the onset of 2009, while the other airlines continued to bleed, Seair has stopped the bleeding. We are happy to even have just a slim margin for the whole, but with the new development in Caticlan, we will have to revisit the plans for the rest of the year.” (Click Caticlan monopoly for the rest.)

(Blogger's note: In the statement, "Lean, mean and small is our aim through the current business climate we are experiencing, and awaiting opportunities as they come to assess how we move," the quote was attributed by our editor to Seair president Avelino Zapanta, but actually it was said by Seair co-founder and director Nikos Gitsis. Apologies to both gentlemen.)

(Boracay-bound passengers board a Seair DO-328 for a flight to Caticlan.)

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