Cebu Pacific set to take off higher in 2019MANILA, Philippines — Budget carrier Cebu Pacific is embarking on a major expansion program this year that will put the company on the recovery track. Cebu Pacific president and chief executive officer Lance Gokongwei said the company has earmarked up to $700 million in capital expenditures this year. Cebu Air Inc., operator of Cebu Pacific, reported a P518.4 million net loss in the third quarter of 2018 from a P42-million profit in the same period a year ago. Cebu Pacific is also set to receive 12 brand new aircraft within the year to support the carrier’s expansion plans. At present, Cebu Pacific boasts of one of the youngest fleets in the world, with an average fleet age of five years.

Source: Philippine Star January 31, 2019 22:06 UTC