Philippines' Cebu Pacific "APPROVED" to fly to Myanmar, New Zealand

Cebu Pacific - Asia's largest airlines - Photo: inquirer.net

MANILA, Philippines–Cebu Pacific Air, the country's biggest budget carrier, has bagged regulatory approval to fly to new international destinations, including New Zealand and Myanmar.

Cebu Pacific said it was granted seat entitlements to mount added flights to Singapore, Macau and, from Cebu to Hong Kong. The increase was approved in a Civil Aeronautics Board meeting, it said.

"For the new routes such as New Zealand and Myanmar, Cebu Pacific is in the process of reviewing network plans and our options in terms of operations. We will make announcements soon as ready," Alex Reyes, general manager for Cebu Pacific's long haul division, said in a text message.

Cebu Pacific was granted seven flights weekly from Manila to New Zealand and 1,260 entitlements from Manila to Singapore, allowing the airline to upgrade its current daily Airbus A320 service to an Airbus A330 service.

In the same meeting, CAB designated Cebu Pacific Air as an official Philippine carrier to New Zealand, Myanmar and Canada.

Cebu Pacific's opposition to extension of the codeshare agreement between Philippine Airlines (PAL) and Emirates on the Manila-Dubai route which is set to expire in October 2014 was also granted by the CAB.

"We commend the CAB air panel for [its] wisdom in rendering decisions that allow Philippine carriers to expand services in international routes. This ultimately benefits the travelling public," said Jorenz Tañada, Cebu Pacific Air vice president for corporate affairs.

Cebu Pacific Air is set to launch thrice weekly flights from Manila to Kuwait on Sept. 2, 2014, and four times weekly flights from Manila to Sydney on Sept. 9, 2014.

The carrier's 50-strong fleet comprises 10 Airbus A319, 28 Airbus A320, 4 Airbus A330 and eight ATR-72-500 aircraft. It claims to be one of the most modern aircraft fleets in the world. 

Between 2014 and 2021, Cebu Pacific will take delivery of 11 more brand-new Airbus A320, 30 Airbus A321neo, and 2 Airbus A330 aircraft, the statement showed.–Miguel R. Camus : Inquirer

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FORBES: Top 50 Richest Philippine Businessmen - Are they paying Right Taxes? Ask Henares

Henry Sy Sr. MIKE AMOROSO - By Louis Bacani (philstar.com)

Forbes: Richest Pinoys got richer

MANILA, Philippines - Forbes magazine released on Thursday its new list of 50 richest Filipinos, most of whom got richer this year.

Based on the updated list, the combined wealth of the country's 50 richest is a whopping $74.2 billion or P3.2 trillion, up 12 percent from $65.8 billion in 2013.

Shopping mall mogul Henry Sy topped the list for the seventh consecutive year with a net worth of $12.7 billion or P553.59 billion.

"[Sy] Retains top spot for seventh year in a row. Richer than ever, thanks to rising share price for his SM Prime Holdings, country's largest mall operator, and Banco de Oro," Forbes said.

Forbes staff Abram Brown noted that four newcomers join the top 50: the Po family, Dean Lao, the Concepcions and P.J. Lhuillier.

"The only loser in the Top 10 was Lucio Tan (No. 2), whose fortune fell on worries about the cigarette market," Brown said.

The list of the richest Filipinos and their estimated net worth:GMA Network executives Gilberto Duavit Jimenez Menardo and Felipe Gozon also saw their rankings fell while businessman Manuel Pangilinan and Lourdes Montinola dropped from the top 50.

1. Henry Sy; US$12.7 billion
2. Lucio Tan; $6.1 billion
3. Enrique Razon Jr.; $5.2 billion
4. Andrew Tan; $5.1 billion
5. John Gokongwei Jr.; $4.9 billion
6. David Consunji; $3.9 billion
7. George Ty; $3.7 billion
8. Aboitiz Family; $3.6 billion
9. Jaime Zobel de Ayala & family; $3.4 billion
10. Tony Tan Caktiong; $2 billion
11. Robert Coyiuto Jr., $1.8 billion
12. Lucio & Susan Co, $1.7 billion
13. Yap family, $1.475 billion
14. Manuel Villar, $1.460 billion
15. Inigo & Mercedes Zobel,$1.2 billion
16. Alfredo Yao, $1 billion
17. Andrew Gotianun $955 million
18. Vivian Que Azcona $935 million
19. Eduardo Cojuangco $870 million
20. Beatrice Campos $825 million
21. Po family $770 million
22. Oscar Lopez $700 million
23. Alfonso Yuchengco $685 million
24. Roberto Ongpin $680 million
25. Betty Ang $670 million
26. Dean Lao $625 million
27. Manuel Zamora $620 million
28. Carlos Chan $550 million
29. Jorge Araneta $510 million
30. Mariano Tan Jr. $445 million
31. Edgar Sia $390 million
32. Ramon Ang $380 million
33. Michael Romero $375 million
34. Concepcion Family $320 million
35. Philip Ang $315 million
36. Frederick Dy $310 million
37. Luis Virata $300 million
38. Alfredo Ramos $260 million
39. Wilfred Steven Uytengsu Jr. $255 million
40. Tomas Alcantara $250 million
41. Jose Antonio $240 million
42. Bienvenido Tantoco Sr. $235 million
43. Jacinto Ng $230 million
44. Gilberto Duavit $200 million
45. Menardo Jimenez $195 million
46. Eric Recto $190 million
47. Walter Brown $183 million
48. Felipe Gozon $182 million
49. P.J. Lhuillier $180 million
50. Juliette Romualdez $170 million

- Philstar

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