Gokongwei’s P6.1B Cebu Pacific expansion gets BOI perks
The Board of Investments (BOI) approved fiscal perks for Cebu Air Inc.’s P6.1 billion aircraft acquisition under public infrastructure and logistics activity of the 2017 Investment Priorities Plan (IPP).
Cebu Air, the airline company of Bilyonaryo Lance Gokongwei and operator of Cebu Pacific, acquired one Airbus 330 (A330) aircraft from Airbus SAS France on a finance lease scheme.
The A330 is a twin-aisle commercial passenger aircraft that can carry up to 436 passengers.
The latest acquisition is an addition to the Cebu Air’s fleet of 58 aircrafts.
Cebu Air now has eight A330, 36 A320, four A319, eight ATR 72-500, and three ATR 72-600.
The low-cost carrier’s new A330 has started its commercial flight last May flying Manila-Incheon-Manila route and Manila-Bangkok-Manila routes.
With the new aircraft, Cebu Air added 186 personnel.
“The growth of the air transport industry remains robust. This will allow Cebu Pacific to further expand its operation as a major budget carrier, stimulating passenger traffic growth with more affordable fares from these strategic routes. More tourists in Asian countries especially from Korea are expected to come in with this new project,” said BOI Managing Head Ceferino Rodolfo in a press statement.