Foreign investors re-enter PH as restrictions loosen
Foreign investors are starting to enter the Philippines following the implementation of more relaxed restrictions under Alert Level 1.
Recently, European aerospace company Airbus SE’s business is slowly recovering in the Philippines market, boosted by the demand for new aircraft in the Asia-Pacific (APAC) region.
In an interview with BusinessWorld, Airbus Asia-Pacific President Anand Stanley attributed this incident to the easing of quarantine restrictions in the country. The Philippines reopened its airports and seaports to fully-vaccinated travelers last February 10.
Stanley urged other APAC countries to do the same because there is currently a “tremendous appetite for people to fly again, reconnect with families and friends, and to restart [businesses].”
Airbus reported a 5.3% annual passenger traffic growth in APAC, translating into a need for 17,620 passenger and freighter aircraft.
The company further stated that the region will continue to drive demand with some 42% of global requirements.
Meanwhile, flag carrier Philippine Airlines (PAL) said that they are working with Airbus to modify 15 of its aircraft to add more seats and accommodate more passengers in the coming months.
