LISTED Cebu Air, Inc., operator of budget carrier Cebu Pacific, said yesterday that it will be spending $1 billion in the next four years for the acquisition of 19 Airbus aircraft and domestic expansion, as well as the hiring of 2,000 more employees.
Lance Y. Gokongwei, Cebu Air president and chief executive officer, said in a statement yesterday the company will also spend P300 million this year “to promote the Philippines abroad.” “Cebu Pacific has already created over 4,300 jobs, 500 of them last year,” he said. “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,” he added. Last year, the airline carried 10.5 million passengers. “This year, we expect that figure to go up to 12 million, of which 10 million would be using the Ninoy Aquino International Airport Terminal 3, nearing the terminal’s rated capacity of 13 million,” he said. The carrier acquired three Airbus 320s in the past three months, and will get five this year. The Gokongwei-led airline will get 16 more Airbus planes from 2012 to 2014. “By the end of 2011, [Cebu Pacific] will be operating a fleet of 37 aircraft -- with an average age of less than 2.5 years,” he said. Cebu Pacific operates more than 260 flights daily to 16 international and 33 domestic destinations from four hubs-------------------------------
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