Cebu Air Inc. has obtained tax incentives and other perks from the Board of Investments (BOI) for the company's planned acquisitions of brand new aircraft over the next two years. In its application for fiscal incentives, the operator of Cebu Pacific said it will invest P5.52 billion to buy eight new ATR-72-500s and five new Airbus A320s. By September 2008 the Gokongwei-owned airline will purchase the five Airbus A320s, and by December 2009 the ATR-72-500s. At present, Cebu Pacific has 14 A319s. The carrier plans to position itself as the country's top domestic airline come by 2011. In 2007, it overtook rival Philippine Airlines as the country's leading domestic airline in terms of passenger volume.
in Manila Times by Katrina Mennen A. Valdez
May 12, 2008
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