Cebu Pacific announced (13-Jan-2011) it will spend USD1 billion within the next four years on the acquisition of 19 new Airbus aircraft in an international and domestic expansion that will require the hiring of 2000 more employees. PHP300 million will also be spent in 2011 to promote the Philippines abroad. By the end of 2011, CEB will be operating a fleet of 37 aircraft — with an average age of less than 2.5 years. [more]
Cebu Pacific: “Cebu Pacific’s main focus in the next few years will be in rapidly growing our international presence, particularly in creating better linkages between the fast-growing North Asian markets of Korea, Japan and Greater China, and the various resorts and tourist destinations here in the Philippines.” CEO Lance Gokongwei.