Local airlines have no plans to cut ticket prices just yet even with jet fuel easing from its record $180-per-barrel price in early July.Local carriers said on Friday they still have to recover costs as a result of the fuel price surge in the past months. Jet fuel prices have eased by more than 16% to $151 per barrel since hitting a record high last month.
In an interview, Southeast Asian Airlines (SEAIR) President Avelino L. Zapanta said they were not yet rolling back prices.
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MacroAsia Corporation (MAC) is engaged primarily in aviation-related businesses. It provides aircraft maintenance, repairs and overhaul services, charter flight services, airport ground handling services and in-flight catering services, and operates a special economic zone at the Ninoy Aquino International Airport. The Company has four operating subsidiaries: MacroAsia Eurest Catering Services, Inc. (MECS) (in-flight catering services); MacroAsia-Menzies Airport Services Corporation (MASCORP) (ground handling and aviation services); MacroAsia Air Taxi Services, Inc. (MAATS) (helicopter chartering), and MacroAsia Properties Development Corporation (MAPDC) (economic zone development/operation). On June 28, 2006, MAC acquired the 13% minority interest of Compass Group International B.V. in MECS, increasing the Company’s ownership in MECS from 67% to 80%. During the year ended December 31, 2006, the Company acquired MASCORP’s 100% ownership in Airport Specialists' Services Corporation.
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