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| ==[[Sorsogon News]]== | | ==[[Sorsogon News]]== |
| '''Joint venture of LGU Sorsogon City with LKY Dev’t. Corp. to create 500 jobs''' | | '''Cebu Pacific shells out P798.8M for new aircraft, adds more summer flights''' |
| *Source: http://bicoltoday.com/?p=5333 | | *Source: http://www.gmanetwork.com/news/story/253867/economy/companies/cebu-pacific-shells-out-p798-8m-for-new-aircraft-adds-more-summer-flights |
| *3-April-2012 | | *April 4, 2012 6:26pm |
| :by Felix ‘Boy’ Espineda, Jr. | | :by April 4, 2012 6:26pm |
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| | Cebu Air Inc. drew P798.84 million from the proceeds of its initial public offering (IPO) to make pre-delivery payments for seven aircraft last January and February, the operator of the Cebu Pacific airline revealed to the investing public Wednesday. |
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| | In a disclosure to the Philippine Stock Exchange (PSE), Cebu Air said the net balance of proceeds from the IPO stood at P380.09 million on March 31 as per accounting procedures applied by SGV & Co. |
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| | The pre-delivery payments, in dollar terms, amounted to $18.32 million. The payments were channeled through Citibank N.A. and Banco de Oro. |
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| SORSOGON CITY (BicolToday.com/3-April-2012) – The agreement and understanding of LGU Sorsogon City with LKY Development Corporation is expected to create five hundred jobs for Sorsoganons.
| | More summer flights |
| It will materialize after the completion and full occupancy of the renovated Sorsogon Shopping Center now in its finishing stage of construction and the on-going Sorsogon Bay City project. The projects are hubs for fast food chains, drugstores, supermart, gas station and the Bay City will host condotels and marinas offering the view of the sunset of Sorsogon Bay. Both offer commercial leasing spaces.
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| The renovation of the old shopping center became one of the focal points during the first term of Mayor Leovic Dioneda, to attract and create job opportunities, doubled-up by the investment of Wilbert Lee, Chief Executive Officer of LKY Development Corporation, the biggest construction concern in Sorsogon, who foot the bill for the renovation.
| | In an earlier disclosure, Cebu Air said it will add 22 percent more Cebu Pacific flights in the summer months of April and May. |
| When the project was tossed to the Sorsogon Chamber of Commerce and Industry, Wilbert Lee took the opportunity and the challenge to prove that Sorsogon City is a good investment area, thus a roadmap for domestic investors was created.
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| | "Because of this increased seat capacity, passengers can take advantage of CEB's trademark low fares for travel this April and May. Plan your family or friends' exciting summer vacation by checking out the low-fare options on www.cebupacificair.com," said Candice Iyog, Cebu Air vice president for marketing and distribution. |
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| This is not the first time that LKY took a giant step, back in the late eighties, the construction firm responded to the offer of then Municipality of Sorsogon when it built a commercial building in a government lot fronting the public market, then another foothold when the diocesan leadership offered the development of the back portion of the cathedral lot which now stands as a landmark in the city proper.
| | Cebu Pacific will have more flights on these routes: |
| This time, the response of Lee’s firm was a class act for Sorsogon City. It was a silent statement that private-public partnership can design, build and offer new landscape for business opportunities.
| | Cebu-Dipolog, Cebu-Legazpi and Cebu-Pagadian (daily flights, February 8 to June 15); |
| It started way back in 2009 during Dioneda’s first term, when the third city council was challenged by him to come-up with a resolution to attract investors for built-operate, built-lease, and built transfer scheme offering safety nets for investors.
| | Cebu-Puerto Princesa (3 added flights to raise total to 10 flights, March 17 to June 4); |
| LKY responded with a grand proposal not only to boost Sorsogon economy but put on record that the traffic problem of the city center be corrected. Thus the renovated Sorsogon Shopping Center when completed will host the tricycle integrated terminal and the Sorsogon Bay City project at Barangay Balogo will house the integrated bus, jeepney and van terminal. Rolling up its sleeves when the projects were given the green lights, LKY never look back. It was committed and it was proving to all that it is not lost in Sorsogon after all.
| | Manila-Legazpi and Manila-Puerto Princesa (total of 4 daily flights each); |
| Both Mayor Dioneda and Wilbert Lee of LKY are sort of visionaries, they have the knack of what can be done and how can it be done. Dioneda created an investment climate, Lee responded in ways never imagined by Sorsoganons.
| | Cebu-Bacolod (total of 17 weekly flights); |
| Simultaneously starting the project created employment to skilled workers and tap the labor force not only of the city but from the other towns of the province. Masons, carpenters, plumbers, welders, pipe fitters, steel fabricators and many more who for sometimes were not employed are now having a week pay to look-up. At its peak LKY was employing close to three hundred workers in the two projects pumping a large sum of money in the local economy. This was an indirect contribution of the construction firm in prime-pumping the local economy. The construction lessened the number of employment seekers at city hall.
| | Cebu-Caticlan (3 daily flights), Cebu-Davao (5 daily flights); and |
| The two projects are now the center piece of construction in the city. It’s because, Mayor Dioneda made a big difference and LKY of Wilbert Lee nurtured the big difference. BicolToday.com | | Cebu-Siargao (4 weekly flights). |
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| | “Legazpi is the gateway to whale shark encounters in Donsol, Sorsogon,” the airline noted. |
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| | “CEB remains the largest airline operating to and from Puerto Princesa, which is world-renowned for its Underground River. CEB is the only airline flying direct to Siargao, an international surfing destination,” the flag carrier also said. |
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| | The airline also decided to extend to June 4 its flight frequency additions for Manila-Cebu (total of 99 weekly flights), Manila-Bacolod (40 weekly flights) and Manila-Iloilo (7 daily flights). |
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| ==Photo Gallery of Sorsogon, Philippines== | | ==Photo Gallery of Sorsogon, Philippines== |