MANILA -- The country’s largest budget carrier said it is unfazed over the competition posed by new player Air Asia Philippines.

“We are lean-and-mean efficient, with a very young fleet of Airbus aircraft and a highly motivated team. This year, our financial performance ranks among the best in the world. We are ready for more competition in our own country and in theirs,” said Cebu Pacific vice president for marketing and distribution Candice Iyog.

With a tougher competition in sight, Iyog said the company will “significantly” increase its Airbus fleet by 2014 as it eyes stronger growth in the face of competition.

Cebu Pacific’s 13th brand-new Airbus A320 aircraft arrived last week, and the airline will take delivery of its 14th Airbus A320 before the end of this month. (Virgil Lopez/Sunnex)