NEWSFLASH

CEBU PACIFIC AIR BUYING 15 BOEING 717s

Manila, June 1, 2000 - Philippine carrier Cebu Pacific Air is closing a deal with Boeing Co to purchase 15 Boeing 717s in the next five years.

``We are pretty close... we are in the final stages but we have not signed the letter of intent yet,'' airline spokesman Ron Ridgeway told newsmen.

Ridgeway said legal and techincal details and financing arrangements are being worked out for the purchase of the 106-seat planes. The airline hopes the deal would be finalized and signed in the next two weeks.

``The plan is to refleet with the Boeing 717s and they will refleet our DC9 fleet in the next five years or less,'' he said.

``We have currently got 12 DC9 32s. If we refleet them... plus a few more that would mean a 14-15 range (of 717s).''