CAPA names Cebu Pacific best low-cost carrier in Asia-Pacific
Leading aviation think tank, Centre for Aviation (CAPA) recognized Cebu Pacific Air (PSE:CEB) as the Asia-Pacific Low-Cost Carrier (LCC) of the Year, during the recently concluded CAPA Aviation Awards for Excellence in Singapore.
"œOur LCC of the Year has endured a tumultuous period in its home market, but maintained its focus and had the highest operating profit margin in the Asian airline industry," said CAPA Executive Chairman Peter Harbison.
"œThe carrier has launched a long-haul operation which strategically improves its long-term position by opening up new markets, while quickly responding to the challenges in this segment," he added.
It currently operates flights to 62 destinations on 90 routes, utilizing a fleet of 51 aircraft which is one of the most modern fleets in the world. Its network spans Asia, Australia and the Middle East.
CAPA also cited CEB's alliance with the Tigerair group, and its ability to adapt as competition intensifies. It was also able to turn around Tigerair Philippines, which is now also profitable.
The think tank also recognized CEB's focus on its home market, and its rapid but scalable expansion that does not come with excessive aircraft orders and capacity.
Established in 1990, CAPA "“ Centre for Aviation is the leading provider of independent aviation market intelligence, analysis and data services, covering worldwide developments. CAPA's Aviation Awards for Excellence are intended to reward airlines and airports that are not only successful, but have also provided industry leadership in adjusting to a new environment.
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Posted: 18 Oct 2014 00:32:49