Zest Air readies flights to Australia and NZ, as it gears up for IPO

By: Eric B. Apolonio, InterAksyon.com
July 27, 2012 3:47 PM

InterAksyon.com means BUSINESS

SHANGHAI - The Philippines' fourth largest carrier Zest Air says that the acquisition of a new fleet of wide-bodied Airbus A330-300s early next year will allow it to launch Melbourne- and Auckland-bound flights from the Philippines, in time for a targetted IPO.

Ambassador Donald G. Dee, Zest Air President and CEO told reporters on Thursday at the Hua Ting Hotel & Towers in Shanghai that the airline, working with partner carriers, hopes to start flights to Australia and New Zealand by July next year.

Zest Air is currently under a five-year re-fleeting program. It wants to add up to three aircrafts to its fleet every year. Currently it operates 14 aircrafts: four Xian MA-60 turboprops, nine Airbus A320s, and one Airbus A319, for domestic and international flights.

Dee said the airline will go public over the next two years, listing its shares at the Philippine Stock Exchange (PSE) to fund its fleet expansion. He added that Zest Air is negotiating with three regional airlines, including Hainan Air of China, for a possible stake in the company.

Zest Air VP for Marketing Freddie Herrera said more direct international flights from Manila are on program this year. The carrier wants to launch by October services to Kuala Lumpur, Bangkok, Seoul, Hong Kong and Singapore. Zest Air will also start flying to Incheon via Clark International Airport (CIA) beginning September.

InterAksyon.com means BUSINESS