BUSINESS

By Darwin G. Amojelar

PHILIPPINE Airlines said Friday it is adding more aircraft to augment its fleet and boost network reliability.

The airline unit of tycoon Lucio Tan said it is set to receive an Airbus A321CEO aircraft in the coming days to accommodate 199 passengers in a dual-class configuration. It will be used for PAL’s domestic and regional routes.

The single-aisle jet is the first of several aircraft that PAL plans to acquire or reactivate this year. Others expected to join

PSBank declares P320m in cash dividend for Q2

PHILIPPINE Savings Bank, the thrift banking unit of Metrobank Group, declared a cash dividend worth P320.14 million for the second quarter of 2023.

PSBank said in a disclosure to the stock exchange Friday the source of dividend payment would be the “surplus from 2Q 2023.” The bank has yet to report its second-quarter results.

“Please be informed that the board of directors of Philippine Savings Bank, in its meeting held July 20, 2023, passed a resolution declaring a 7.5-percent regular cash dividend for the second quarter of 2023 amounting to P320.14 million, equivalent to P0.75 per share,” it said.

“This will be payable to all common stockholders as of the record date of Aug. 4, 2023 and will be paid no later than the payment date of Aug. 22, 2023,” it said.

PSBank president Jose Vicente Alde earlier said robust consumer spending fueled the significant retail loan demand in the early part of 2023 although interest rates and inflation remained high. Julito G. Rada

DICT, telecom firms agree on connectivity rating

THE Department of Information and Communications Technology signed an agreement with telecom operators to establish a standardized connectivity rating system to elevate internet quality in the Philippines.

It said the memorandum of understanding with Globe, PLDT, Smart, DITO and Converge exemplifies the collaborative drive of all stakeholders in pushing for inclusive national progress.

“The benefits of having a nationwide benchmark for internet quality in a particular area could not be overstated. For businesses and public institutions, the Connectivity Index Rating will allow them to optimize their connectivity requirements based on the volume of usertraffic that they accommodate in their area,” DICT Secretary Ivan John Uy said.

Uy said the Connectivity Index Rating would push businesses to innovate and invest in quality connectivity solutions that will increase brand recognition and expand their customer base.

“More importantly, the Connectivity Index

Rating is aligned with the directive of President Ferdinand Marcos, Jr. to accelerate the digital transformation of the country by raising awareness on the availability, quality and consistency of internet connectivity in buildings used for public purposes,” he said.

Darwin G. Amojelar

EEI Power to set up 1MWp solar rooftop system in

Tarlac

EEI Power Corp., a subsidiary of EEI Corp., signed a deal with International Wiring System (Phils) Corp. for the construction of a 1008kWp (1MWp) solar PV rooftop system at the latter’s plant in Tarlac City.

This is one of several deals being carried out through the joint marketing efforts of EEI Power and Nippon Steel Trading CorporationManila Office, specifically among Japaneseaffiliated companies in the Philippines. The collaboration also involves the use of solar panels from Japanese-associated Vietnam Sunergy Joint Stock Company. The system, comprised of 1,832 pieces of VSUN 550-watt monocrystalline solar photovoltaic panels, is expected to provide at least 40 percent of the daytime load requirement of IWSP’s Building 6 and will yield an annual average energy output of 1,296,675 kWh.

It is anticipated to mitigate the company’s carbon footprint by an estimated 598 metric tons a year which is equivalent to saving 136,492 liters of gasoline annually and planting 17,848 additional trees.

“This 1MWp solar rooftop system is merely the first of many initiatives of IWSP involving the utilization of a clean energy source which is attuned to the sustainable development drive of the entire Sumitomo Electric Group globally. We are certainly honored to do our humble share in the betterment of our communities and the environment,” said IWSP president Ichiro Tonai.

“It is our commitment to deliver accessible and affordable solutions to all our customers without compromising the highest standard of quality. This partnership between EEIPC and IWSP serves as a testament to our shared vision of promoting sustainable energy and bolstering the growth of the renewable energy industry in the Philippines,” said EEI Power general manager Salvador Salire Jr.

the fleet in the near term include an Airbus A330-300 widebody aircraft with a capacity of 363 seats for medium haul routes and a De Havilland a Dash 8-400NG aircraft with a capacity of 86 seats to be used for inter-island operations. PAL also said negotiations were under way to secure additional aircraft this year.

The flag carrier said it was actively engaged in coordinating with suppliers and service partners to re-activate more aircraft that have been parked for extended periods, while awaiting replacement engines and parts, as a consequence of delays in the global supply chain that afflict the worldwide airline industry.

PAL is among the airlines affected by the engine maintenance issue caused by delayed shipments of engine parts. This resulted in flight cancellations that affected the travel plans of local and international passengers, forcing Congress to hold a legislative inquiry.

“We are taking various actions to boost our fleet count and enable us to meet the continuing surge in travel demand, while minimizing delays and cancellations,” said PAL vice president for network planning Christoph Gaertner. Gaertner said the airline pro-actively reduced some frequencies on a number of routes as part of a rationalization of its schedules to ensure high reliability.

“We are working with our suppliers as well as aircraft and engine manufacturers on initiatives to increase efficiency without compromising safety, which is our absolute top priority. This is our ob-