WHAT HAPPENS TO BORACAY AIRPORT AFTER THE TYPHOON? | Marvin Germo
MMGM-Logo

Do you want to Make Money and Grow Money?

YES, I want it!

WHAT HAPPENS TO BORACAY AIRPORT AFTER THE TYPHOON?

By: Marvin Germo | December 28, 2019

Boracay Airport Still Operates

The Boracay Airport located in Caticlan continues its operation despite the damages brought by the recent typhoon in the Visayas region. This is a disclosure made by the infrastructure unit of San Miguel Corporation. The company also disclosed that there were additional flights accommodated by the Boracay airport while the Kalibo airport is still closed due to major damages from the same typhoon. There might be delays and inconvenience due to this and the company wants to inform the public about it. Here is other information supporting the continued operation of the airport.

Catch me in my live training events! (quick plug)

The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing.  I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the training below.

Stock Smarts Taiwan – February 15, 2020

Diverted Flights

The Boracay Airport operates to take all the diverted flights from the Kalibo airport as per the instruction of the Civil Aviation Authority of the Philippines (CAAP). The Boracay airport usually takes 26 flights every day and because it is the only airport open in the region, it was able to operate 40 outbound flights, covering until December 26. This already included the eight Airbus planes that took off after sunset. SMC Infrastructure also disclosed that the communication lines and ATMs are still down at the moment. There are Smart lines available but not all the time. The electricity is still not available so the airport runs on generators.

Q3 Income Fell

San Miguel Corporation (SMC) reported a drop in its earnings by 5% during the nine-month period of 2019 as Petron Corporation had been badly affected by the shrinking refining margins. The conglomerate presented on its website that the income fell to P39.7 billion from January to September. According to the firm, the year-to-date net sales were at P758.63 billion flat. This is lower compared to the P761.17 billion net sales reported last year during the same period. The operating income for the nine-month period also slipped by 9% to P88.5 billion.

SMC Business Segments

If we take a look at the business segment section, most of the earnings, which were at P381.66 billion, of SMC were contributed by Petron. Despite the 9% decrease in earnings from the same period last year, Petron continues to be a big role player in SMC’s business. And since Petron has been a major player, it is not surprising that SMC reported a slip in its earnings while Petron is trying to recover from its shrinking refining margins. As for Petron, it reported a 70% net income drop to P3.6 billion. This is due to owing to prolonged depressed refining margins in the region and its refinery shutdown. The decline in earnings was partly tempered by the 2% increase in sales volume in Malaysia. SMC said that it will continue to push for a level playing field in the industry as it supports the fuel-making program of the government. The firm will continue to watch out for the implantation of all the industry players.

I’m excited to share my 5th book overall and the 4th book in the Stock Smarts series, Stock Smarts: Breaking the Resistance – How to time your traders perfectly. The heart of this book is to teach you strategic ways on how to come in and buy and sell stocks in a way where you come as the market is headed up and come out as the market is headed down. The book is now out and exclusive via Marvin Germo Book Orders.
For more details and to order my other books: Marvin Germo Book Orders
Stock Smarts Book
HOW TO MANAGE YOUR BUSINESS FINANCIALLY