ABOITIZ Transport System (ATS) expects improved financial performance for the rest of the year, thanks to better passenger and cargo traffic as well as stabilizing fuel prices. The optimism is also fueling the company’s refleeting program.

Last week Erramon Aboitiz, chief executive officer of Aboitiz Equity Ventures (AEV), the mother company of ATS, said, “Both passenger and cargo volume have so far increased in double digits compared to last year” even with stiff competition from low-cost airlines.

“It’s really positive when the economy is growing because that means there are more products being moved around the country.”

He added, “We are rejuvenating our shipping line. The company is slowly buying back ro-ro (roll on-roll off) ships to increase our capacity.”

Freight operations make up more than 60% of ATS revenues, and the passage business the rest. The freight business operates under the brand “2Go” while its passenger brands are SuperFerry, SuperCat and Cebu Ferries.

ATS recently introduced two SuperFerry ships and one for Cebu Ferries.

In the first half the year, ATS operated at limited capacity with some vessels undergoing maintenance and drydocking. As a result, the company reported a P152.5-million net loss for the first semester. This compares to a profit of P496.1 million for the first half of last year.

Freight revenues amounted to P2.5 billion, down 6% versus the same period in 2009.

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