In Manila on July 27, Subic Bay freeport inaugurated Pacific Pearl Airways, a low-cost carrier, with Philippine President Arroyo gracing the event. Pacific Pearl Airways also announced that they entered into an agreement with the SBMA to lease a hangar within Subic Bay International Airport (SBIA). Pacific Pearl Airways has also confirmed regular charter flights from the Subic Bay International Airport to Kalibo beginning August 17, 2007, with scheduled flights to and from; Manila, Subic, Aklan, Cebu and Davao to begin this August as well. On that same day, Pacific Pearl Airways CEO, Jimenez, told reporters that his company's aircraft will make flights starting August 17, with the maiden flight leaving Subic Bay International Airport bound for Palawan, Aklan and Cebu.