martin,
I suggest that you apply at PAL AV. I hear it's the best in the country. As I have no chance of getting in (my dad was a striker, never returned to PAL's roster), I'm currently setting my eyes on Omni.
If you enroll at CIA, get a scholarship from Cebu Pac, and graduate, I'm sure they'll hire you (as they invested a hell of a whole lot of money for your education). Some students at CIA however, are currently not on Cebu Pac's scholarship program. These students are waitlisted and if slots are opened, they'll be accommodated. I asked around at CIA two months ago, and found out that the waitlist is a little long.
As for PAL hiring CIA graduates, I think they'd rather hire their own students. If you're a CIA graduate, I'm sure PAL will require you to garner 1000+ flight hours before they hire you (because CIA's graduates only earn around 70 flight hours after graduation). Hope this helped.
(NOTE TO OTHER PPRUNERS: Please feel free to correct me if i mentioned something that is not true. thanks!)