CebuPac: Oct local market share 45% vs PAL's 43%

Airlines Cebu Pacific said Monday it cornered 45 percent of the domestic market share in October, snatching leadership from rival Philippine Airlines, which had a 43 percent market share for the month. In a statement, Cebu Pacific -- which is controlled by the Gokongwei group, said it carried a total of 366,284 passengers for October, 111 percent higher from a year earlier. "The steady growth of passenger loads can be attributed to Cebu Pacific's aggressive pricing strategy, continuous expansion and opening of new routes, as well as its high quality product offering," the airline said. Cebu Pacific flies to 20 domestic destinations through 624 one-way flights per week. The airline also operates a total of 24 routes in its domestic network and has the newest fleet of planes in the Philippines with a fleet age of less than nine months. - Patricia de Leon, GMANews.TV