Quantcast
Latest Stories

Cambodia to launch new carrier this year


PHNOM PENH—Cambodia is expected to launch a new airline later this year after a deal was struck between one of the country’s biggest tycoons and Philippine conglomerate San Miguel Corporation.

Kith Meng, chairman of Royal Group — a hotel, media and telecoms empire — inked the deal late on Tuesday with the Manila-based firm, which already owns a controlling stake in Philippine Airlines (PAL), according to a statement.

The Cambodian businessman will retain a 51 percent share of the newly-minted carrier — Cambodia Airlines — the statement said, adding that the Philippine company will own the remaining 49 percent.

The new airline, the country’s second, will “contribute to Cambodia’s economic growth by creating employment opportunities, bringing investors and building a strong aviation industry,” Kith Meng said in the statement.

Royal Group’s chief financial officer Mark Hanna told AFP that domestic flights could begin as early as June this year with international routes expected to begin in October.

“There is a huge growth in tourism and that has a direct impact on aviation,” Hanna said, predicting the Cambodian aviation industry will surge over coming years.

The southeast Asian country launched its first national airline, Cambodia Angkor Air, in 2009, after a previous effort folded in 2001.

More than 20 foreign airlines, including Japan Airlines and Qatar Airways, currently operate flights to Cambodia.

San Miguel has been aggressively branching out into new ventures like oil refining, aviation, toll road operations, and power generation to beef up its core businesses that includes a brewery that is now in its 123rd year.

Last month the firm announced its consolidated net profit surged 57 percent to P27.6 billion ($677.55 million).


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: aviation , business , Cambodia , Cambodia Airlines , Global Nation , PAL , Philippines

  • pfc_kulapu

    BOTCOTT CAMBODIA..

    • loneylonski

      Botcott? Bakit naman?

    • foreignerph

      Botcott? Lol. You already have to “botcott” China and Malaysia. It’s going to be very busy in the PH, “botcotting” the entire world in the end…

    • don alto

      BOTCOTT : Is that a NEW WORD? …LOL!

  • txtman

    OPEN SKY POLICY NOW NA!
    INUUNA PA KASI ANG KAPAKANAN NG KKK
    KAYSA SA BANSA
    PITIFUL

    • makinagulingon_nasud

      HAHA SAN MIG GOT THE BEST PARTNER TO CLIMB INTO BED WITH–ITS EQUAL
      Australian-Cambodian tycoon Kith Meng—a dual Cambodian-Australian citizen with a BA from Australian National
      University. Kith Meng, aka “Mr Rough Stuff”, is described in the US
      cable as a “ruthless gangster” and “is notorious for using his
      bodyguards to coerce others into brokering deals”. (SAN MIGUEL??)

      As CEO of Royal
      Group of Companies, he runs the influential Cambodia Television
      Network, several gambling companies and is an “exclusive distributor of
      Canon products”. He owns 45% of ANZ Royal Bank, the local
      joint-venture of ANZ bank.

  • http://www.facebook.com/Boycott.Made.N.China Val Sor

    Don’t forget the Cambodia is a puppet of China.

  • http://www.facebook.com/Boycott.Made.N.China Val Sor

    Boycott China only



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
  1. Filipinos second-shortest in Southeast Asia
  2. Afghan hospital guard kills 3 US doctors, including Fil-Am pediatrician
  3. HK victims to get P115M; traders raised money
  4. Career diplomat is new PH consul general in Los Angeles
  5. Senator hopes PH will also get same vow
  6. Filipina, 51, shot dead by 24-year-old American boyfriend
  7. US4GG: Aquino should ask Obama for TPS approval, drone technology
  8. Obama to visit Filipino soldiers in Fort Bonifacio
  9. Believe it or not: Filipinos love US more than Yanks
  10. Abandoned in Malta,15 PH seamen return
  1. Filipina, 51, shot dead by 24-year-old American boyfriend
  2. Japan presents $57-B ‘dream plan’ to solve Metro congestion
  3. Hong Kong accepts PH apology; sanctions also lifted
  4. Japan says visa-free entry still a plan
  5. 85% of Filipinos love US – survey
  6. 10 US presidents who visited the PH (and what they said)
  7. WHO warns vs spread of MERS-Cov, urges vigilance in taking precautions
  8. 19 Ukrainians, Russians, Filipinas rescued in bar raid
  9. 150 Filipino teachers in Maryland to lose jobs, visas
  10. Japan mulls no visa rule for Filipinos
  1. US to China: We will protect Philippines
  2. Japan mulls no visa rule for Filipinos
  3. DFA grants visa-free privilege to 7 countries
  4. China warned: Don’t try to tow away BRP Sierra Madre
  5. Back home in Manila, and feeling out of place
  6. Filipina, 51, shot dead by 24-year-old American boyfriend
  7. Japan presents $57-B ‘dream plan’ to solve Metro congestion
  8. China: PH tarnishing Beijing’s international image
  9. What’s inside BRP Sierra Madre?
  10. Hong Kong accepts PH apology; sanctions also lifted
Advertisement

News

  • Cayetano to DOJ: Bare Napoles’ list of ‘pork’ officials
  • Drunk passenger triggers Bali hijack alert
  • Businesswoman allegedly killed by husband, brother-in-law
  • Roxas suspended from golf club for outburst over P5,000 guest fee
  • SC reschedules oath-taking of new lawyers
  • Sports

  • Guiao fined P100,000 for ‘mongoloid’ comment vs Meralco forward
  • Hawks and Grizzlies revel in home wins
  • Floyd: Manny’s power gone
  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • BDO nets P5.5 B in Q1
  • Pacquiao may be 2013 top taxpayer
  • Emperador nets P1.7 B in Q1
  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Plane lands at Bali airport in suspected hijacking—Indonesia air force
  • Obama lands in Seoul as N. Korea nuclear test fears grow
  • Militant protests vs Obama, US set
  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Marketplace