The founder of budget airline Cebu Pacific John Gokongwei Jr, has passed away at the age of 93.
Media reports claim the news was confirmed by his son, Lance, in a text message sent out on Sunday. (November 10).
Gokongwei Jr launched Philippines-based Cebu Pacific in 1996, with the business now headed by Lance as CEO.
Gokongwei was the founder of JG Summit Holdings, the Philippines' third-largest conglomerate, with a market capitalisation of $13.1 billion and one of the widest footprints in the region.