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Cebu Air
Inc. will be enjoying full incentives for its
P5.5-billion refleeting project.
The
Board of Investments (BOI) approved the grant of perks
to Cebu Air Inc., which carries the trade name Cebu
Pacific, saying it will boost local and foreign tourism,
aside from providing more alternatives to business
travelers.
The JG
Summit Holdings-owned company will acquire five
additional aircraft from September to December, and
eight more next year.
Eight of
the new planes will come from France and will have a
capacity of 72 passengers for short-distance
destinations or to smaller airports. The other five are
short- to medium-range commercial Airbus planes with a
maximum capacity of 179 for domestic and international
routes.
The
fleet expansion, the BOI said, will provide more viable
and affordable means of transport in and out of the
country.
“Lower
operating costs will allow Cebu Air to lower fares,
which will make air travel more accessible to a greater
majority,” the BOI said.
The
project, which will generate fresh employment
opportunities for 1,045 personnel, qualified under the
Logistics heading of the Investment Priorities Plan.
Also to
enjoy a host of government incentives topped by
income-tax holidays and duty-free importation of raw
materials and capital equipment is the P22.14-billion
power-generation project of Global Business Power Corp.
(GBPC) in Toledo, Cebu.
The new
power plant is a coal-fired facility utilizing the
latest clean coal technology called the Circulating
Fluidized Bed that will ensure efficient, advanced,
flexible and environment-friendly operations.
GBPC
intends to remedy the projected electricity shortage in
the Central Visayas by 2010 with the new plant. |
