Cebu Pacific, the largest airline in the Philippines, is open to mergers with other airlines including flag-carrier Philippine Airlines (PAL), its president said yesterday. Cebu Pacific president Lance Gokongwei said his airline had a “strong balance sheet” compared to rival carriers. He said: “We are not in any current discussions with Philippine Airlines but… if the opportunity arose, I would certainly look at it “Cebu Pacific continues to operate in a profitable manner. We are able to make money and fund our growth plans,” he said. Net profits in 2011 amounted to 3.62 billion pesos ($85 million), a 48% fall

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