Aquino’s WEF speech ‘music to CEO’s ears’

MANILA, Philippines – A top Asian executive said President Benigno Aquino III’s speech at a luncheon event in Myanmar was “music to his ears.”

Tony Fernandes, founder of giant budget airline AirAsia and who is at the 22nd World Economic Forum (WEF) on East Asia, lauded President Aquino’s special mention of tourism and infrastructure as key priorities.

These benefit AirAsia’s Philippine unit, which operates in Clark and Manila airports.

Fernandes, a former music industry executive, tweeted:

President of Phillipines talks of no corruption of levelplaying field. Of accountability. Music to my ears. Results can be seen.

— Tony Fernandes (@tonyfernandes) June 7, 2013

Fernandes-led AirAsia started operating in Clark as an international airline in 2005, but its operations and expansion plans were met with various regulatory and political hurdles. At one point the government, then under former President Gloria Macapagal Arroyo, granted it permits that were only 3-month long, limiting the tickets it could sell at competitive prices.

It decided to set up a Philippine unit, which started operating in March 2012, to add domestic destinations to its route network. With its hub in Clark airport, however, growth remained limited since most feeder flights from domestic destinations were still based in Manila, which is about 100 kilometers away.

In early 2013, it forged a deal with another local player, Zest Airways, which has slots at Manila airport, which is already bursting at the seams and has no more room to grow.

Tourism key key for PresidentAquino. More slots at manila airport. Roads to Clarke. New air traffic system. All great news.

— Tony Fernandes (@tonyfernandes) June 7, 2013

President Aquino led a 57-member delegation at the gathering, which is considered Asia’s version of the WEF event in Davos, Switzerland held every January. – Rappler.com