Gokongwei intervenes after Cebu Pacific airline stock skids 25 percent

JG SUMMIT Holdings, the parent of Cebu Pacific, bought 300,000 shares of its airline unit Friday after the share price tumbled by as much as 25 percent to P82 during jittery trading. The shares of Cebu Pacific have declined each day since Dec. 7, when the Board of Investments said AirAsia., Southeast Asia’s biggest budget carrier, planned to form a Philippine unit that will fly to domestic and international routes. AirAsia’s Philippine venture will start flights as early as August, chief executive Tony Fernandes said. Read the complete article here click this link

Instead of meeting the competition head on and improving their operations and customer service which is none existant now, they run to the court to protect them.  Let the customers get competition we need it badly.