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Manila Bulletin devider Business devider Duterte approves Skyjet Airlines International franchise

Duterte approves Skyjet Airlines International franchise

Published Sep 19, 2019 12:00 am
President Rodrigo Duterte has signed into law an act granting Skyjet Airlines (Magnum Air SkyJet Inc.) a franchise to operate domestic and international air transport services for 25 years. Republic Act No. 11410 was signed by the President last August 22, 2019, and was released by Malacañang last week. SkyJet President Dino Reyes-Chua SkyJet President Dino Reyes-Chua The law allows SkyJet Airlines to operate and maintain air transport services including the carriage of passengers, mails, goods and cargo products, both for domestic and international operations. "This is really a great news for the aviation industry. We will continue to be a catalyst in developing new tourism destinations and discover the undiscovered, explore the unexplored islands in the Philippines," said Dino Reyes- Chua, President of SKYJET Airlines. The law signed by the President states that the grantee shall have the right to use terminals and landing fields, as well as its aircrafts, to construct, operate and maintain stations or transmitting sets for wireless telegraphy and direction findings, and other radio aids to air navigation, using wavelengths in accordance with the rules and regulations made from time to time by the proper agencies of government. "Air transport services shall include the maintenance of hangars and aircraft service stations and facilities and other services of similar nature which may be necessary, convenient or useful as an auxiliary to aircraft transportation," the law states. The franchise also allows the company to offer at least 30% of its shares of stock to the public within five years of operation giving them a green light to list their company in the Philippine Stock Exchange subject to the approval of the Securities and Exchange Commission (SEC). "With the granting of this franchise, we can now pursue our plans in expanding our fleet as well as our new destinations and even launching international routes." SkyJet President Dino Reyes-Chua added. SKYJET Airlines is positioning to be the country's premier leisure airline flying to several island dream destinations such as Batanes, Camiguin, Siargao, Coron, and San Vicente, Palawan. Promos and Seatsale offers are also available at their website or by directly contacting their hotline 0917-8-SKYJET.
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