Zest Airways Inc. president and CEO Alfredo M. Yao said the airline was expanding its Airbus fleet as part of efforts to attract the growing number of tourists to and from China and other Asian destinations.
The airline is taking delivery of three Airbus 320s this year and another three in 2012, Yao said. Regionally, Yao said the airline currently flies to Shanghai and Beijing in China, as well as Busan and Incheon in South Korea.
The four destinations would be enough to serve the China market well for now, Yao said.
He said Zest Air was applying for flights to Kuala Lumpur, Singapore and Ho Chi Minh City.
“All of these flights will serve the Kalibo market. Boracay is the most popular destination for us right now,” Yao said, adding that Zest Air was also increasingly interested in expanding in Bohol, Palawan and Cebu.
Yao said there was a long-term vision to list Zest Air but that the company was still focusing on generating sustained profitability.
“Around next week we’ll be flying to Chengdu. Before this month ends we’re flying to Xiamen,” he said.
Each plane costs around $40 million to $47 million, depending on the configuration and arrangements of the acquisition, Yao said. Ideally, he said the airline would like to own about half of its fleet and lease the rest.
Meanwhile, Zest-O Corp. is looking into expanding in China, according to Yao, who chairs the company’s board of directors.
The beverage company may expand to China next year, Yao said.
Zest-O is currently constructing a plant in Indonesia.