Jetstar, Tiger, and Air Asia all have grandious plans for world domination, or at least SE Asia domination. They are already clubbing each other to death, and are going to hurt the other players like Cebu soon. Those 3 compete heavily in almost every market in SE Asia, including the PI. Throw in Thai, Singapore, Garuda, and Malaysian trying to beat them back with their own low cost products.
I think it will seriously hurt profitibility in the long haul, and their will be a serious blood letting of excess aircraft and crews in a few years.