JG Summit Holdings expects its Philippine airline to carry a million more passengers this year, as decade-low prices for crude oil flow through to cheaper fares. Cebu Air will probably carry more than 19m passengers this year, up from more than 18m in 2015, president Lance Gokongwei said. Gokongwei said the fall in fuel prices does have its downsides, though. "First is that fuel surcharges have been removed, so that has reduced yields" on Cebu Air flights, he said. "Second, it's a manifestation of weaker economic growth globally, especially with concerns about China's weakening economy. There also are currency fears in emerging markets." Cebu Air, which was unprofitable in Q3 2015 due to fuel hedging and currency losses, is reviewing its fuel-purchase strategy and will consider adding more hedges to take advantage of the current low fuel price, Gokongwei said. <br/>
unaligned
Gulf Air has ordered 19 new Airbus A320neo-family aircraft a day after upgrading a 16-aircraft Boeing order, as it pushed ahead with plans to renew its fleet. The loss-making carrier placed an order for 17 Airbus A321neo and 2 A320neo aircraft, building on an existing order for 10 A320neos, worth a combined US$3.4b. It also converted a previous 16 787-8 order from Boeing to 787-9s. Gulf Air said it anticipates delivery to start from Q2 of 2018. Gulf Air's orders are likely to be the only significant commercial announcement at the Bahrain Airshow. To purchase the aircraft, Gulf Air plans an equal split between financing and lease-buy-back structures. "We're looking at all financing options in the market to keep a healthy balance sheet," Gulf Air CFO Sahar Ataei said. The company is also looking to conclude contract details with Bombardier for its 110-seat CS100 aircraft, CE Maher al-Musallam said. <br/>
Kuwait Airways is seeking to double its share of passengers using Kuwait International Airport (KWI). For years, the carrier has lagged badly behind other airlines in the Gulf, with an increasingly archaic fleet that includes Airbus A300-600s and A310-300s. Passenger numbers have trailed off as inflight standards failed to keep pace with modern standards. The airline has 20% of passengers using the airport, which it hopes to increase to 40%-45%, the figure it achieved before it began its decline, recently appointed CE Abdullah Al Sharhan said. The presence on the static line of a newly delivered Airbus A330 is symbolic of the renaissance of the airline, he added. "We want to show everyone that this is the new Kuwait Airways. We're working on transforming the company". The Kuwait govt has financially underwritten the airline, but Al Sharhan said he wanted to transform it into a financially independent entity. <br/>