Cebu Pacific is likely to increase its cargo business with new aircraft being added to its fleet following an order for 14 French-made ATR72-500 passenger planes.

Lance Gokongwei, president of Cebu Pacific Airways said the acquisition of more aircraft would be partly finance by a planned initial public offering (IPO) of the airline at the Philippine Stock Exchange this year.

The airline is aiming to expand its current fleet to 46 aircraft to meet rising cargo business and passenger demand of five million this year which is expected to grow to some 15 million by 2013. Earlier, the company has placed an order of 20 more Airbus A320 aircraft worth US$1.3 billion. – Edu Lopez