SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

May 18, 2017

2. SEC Identification Number

3. BIR Tax Identification No.

948229000

4. Exact name of issuer as specified in its charter

5. Province, country or other jurisdiction of incorporation

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

2nd Floor Dona Juanita M Lim Building, Osmena Boulevard, Capitol Site, Cebu City Postal Code

8. Issuer's telephone number, including area code

9. Former name or former address, if changed since last report

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares	605,953,330

11. Indicate the item numbers reported herein

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Cebu Air, Inc.CEB

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Clarification of news report

Source
Subject of News Report
Date of Publication

Clarification of News Report
We write with respect to the attached news article entitled “JG Summit spending P48.2b for expansion” posted in manilastandard.net on May 17, 2017. The article reported in part that: “JG Summit Holdings Inc., the investment company of tycoon John Gokongwei, earmarked P48.2 billion for 2017 capital expenditures, higher than P41.9 billion it spent in 2016, to expand operations of core businesses. A presentation to investors uploaded on the company’s website showed JG Summit’s core subsidiaries, Universal Robina Corp., Robinsons Land Corp. and Cebu Air Inc., would raise their own funds for this year’s capex. URC, the group’s food manufacturing unit, budgeted P7.2 billion to expand the capacities of existing facilities both here and abroad. Property unit RLC allocated P16 billion to construct new malls, offices, hotels and land banking activities. The balance will be used for fleet expansion of Cebu Air, operator of Cebu Pacific and Cebgo; operating and maintenance capex of the petrochemicals group; and the expansion and maintenance projects of Robinsons Bank Corp. . . . .” Cebu Air, Inc. ("CEB") confirms that there is a budget for capital expenditures in 2017 amounting to P24 billion and this will be used for fleet expansion of Cebu Pacific and Cebgo, Inc.
Other Relevant Information
N/A