Aboitiz favours cargo over passengers

Manila: The Aboitiz group, which runs the country's biggest shipping company, Aboitiz Transport System Corp (ATS), is cutting its passenger capacity and increasing its cargo shipping business as falling airfares and rising fuel prices cut into passenger traffic numbers. One ship has already been sold and another chartered in as the 15-strong fleet prepares for a change in business amid a huge influx of budget airlines. Fuel saving measures have also seen ATS phase out all fast ferries such as the SuperCats which linked numerous islands in the archipelago.  [30/08/06]