Commandeered flights
With only three Air Force C-130s at its disposal for relief operations in Tacloban, government agencies have come knocking on the doors of Philippine Airlines for their logistics and transportation needs.
In fact, entire flights of the flag carrier (which is still struggling financially due to high fuel costs, mind you) have been commandeered for relief operations, specifically to fly aid workers from Cebu to Tacloban and fly out evacuees on the return leg.
According to our source, Philippine Airlines has so far flown in to Tacloban a rescue team from the Metro Manila Development Authority, about 70 doctors from the Department of Health, Red Cross personnel, several medical mission groups, troops from the Aviation Security Group (to augment airport security), crews from news organizations, as well as tons of relief goods, medicines, medical equipment and cadaver bags.
In addition, Philippine Airlines has so far mounted eight special commercial flights using its Bombardier Q400 aircraft (as turboprops are the only type of plane permitted to land in Tacloban so far). The airline has prioritized passengers with confirmed bookings made before the typhoon struck, but is also slowly working its way toward accommodating other evacuees.
All of these are, of course, money losing activities for the airline, so shareholders will have to wait just a little longer for financial returns to come in.
Incidentally, even the international aviation sector is rushing aid for the Visayas.
You see, PAL is set to receive its sixth Boeing 777-300ER jet this week, with the delivery flight from the usually being empty.
So Seattle-based Boeing Co. asked PAL head honcho Ramon Ang for, and quickly received, permission to load up the cavernous widebody with several tons of relief goods on its flight to Manila. Thus, the delivery flight has become a mercy flight. No problem. Daxim L. Lucas
Have horsepower, nowhere to gallop
THE MANILA Electric Co. (Meralco) has an electric vehicle charging station and chairman Manuel V. Pangilinan’s dashing new Tesla Model S sedan to glam it up. There’s no taking the car out for a spin, however. It’s not yet registered.
Pity. The car has been on Philippine soil since July.
Our friendly neighborhood Land Transportation Office seems to be (understandably) at a loss on how to register this particular e-vehicle. See, unlike other e-vehicles that have been registered before it, the Tesla Model S is not a hybrid. Look, no internal combustion engine!
How cool is that? So cool that our friends at the LTO will have to think of a new registration format for the Tesla and other future models that run without internal combustion engines. No engine means no engine number, and right now that means no registration.
So Tesla doesn’t do hybrids and the LTO doesn’t do batteries. What to do? Curious, we asked someone from Meralco whether there’s any identifying number on the Tesla that can be used for registration.
“There’s a VIN (vehicle identification number),” said Meralco SVP Al Panlilio.
Alternatively, for classification or other purposes, it’s been suggested that LTO note the price of the car (which consists of a good number of zeros).
We’ll have to leave it to the experts, though, because there’s a whole lot of other issues besides listing an engine number—or if it ever comes to it, a VIN. Riza T. Olchondra
PDIC award
ECONOMIC managers have said time and again that the country’s “sound and stable” banking system was one of the main sources of strength of the Philippine economy.
This is no accident. banks are only able to stay this strong because local regulators keep them from taking excessive risks that may weaken their balance sheets.
So it’s no surprise that the Philippine Deposit Insurance Corp. (PDIC), the central bank’s coregulator for the banking sector, was named the world’s best Deposit Insurance Organization this year.
The award, conferred by the Switzerland-based International Association of Deposit Insurers, was given last Nov. 7 in the organization’s annual general meeting in Buenos Aires. The PDIC bested 71 of its international peers for the award.
Other awardees include Russia’s Deposit Insurance Agency, which won the “Award for Achievement in Banking Resolutions and Payouts,” the Bank Guarantee Fund of Poland for the “Award for Core Principles and International Participation, and the Kazakhstan Deposit Insurance Fund for the “Award for the Deposit Insurance System Improvements.”
The PDIC’s main role, of course, is to take over banks that are closed down by the Bangko Sentral ng Pilipinas (BSP) Monetary Board. The PDIC also has the authority to conduct its own bank examinations to detect weak banks that are in danger of shutting down.
Earlier this year, BSP Governor Amando M. Tetangco Jr. was also named the world’s best central banker for the fourth consecutive year by Global Finance magazine.
Since it was American banks and other financial institutions that caused the 2008 global crisis, it’s only right that it’s our banks, thanks to good regulators, that are helping keep the Philippines afloat. Paolo G. Montecillo
Brandy wars
SERIOUS about making a dent in the brandy business dominated by Andrew Tan’s Emperador Inc., the group of Lucio Co will launch a lighter version of the Spanish brandy Excelente for the more health conscious drinker.
Through Cosco Capital’s unit Montosco Inc., which also distributes Alfonso brandy as well as Baileys Cream Liqueur and Patron Tequilla, the Co family will launch Excelente Light Brandy on Thursday.
Cosco is keen on growing this business, which company president Leonardo Dayao earlier said drew a large amount of curiosity from investors. Dayao said they would be happy to corner 5 percent of the domestic brandy market in two to three years.
As for Excelente Light’s taste, we have no personal information, but third-party individuals, who are associated with Cosco, of course, said initial taste tests have proved “positive.”
Keeping with industry practices, Cosco is also making sure to tap some celebrity power to ensure the product’s success. In this case, we hear local actress Angelica Panganiban would be unveiled as “brand ambassador.” Miguel R. Camus
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