Cebu Pacific Air's Advisory on CAB's Proposed Resolutions

The budget airline Cebu Pacific Air issued an advisory which contains a statement of appeal to reconsider the proposed CAB resolutions and understanding from its patronizing passengers. In addition the statement also reiterate that the existing resolution "would most certainly result in higher fares and less options for the traveling public." Further, the advisory states that the airline will be forced to stop a lot of their seat sales which includes their "piso fare," if the government will do nothing to rebuke it.
Typically, airlines especially budget airlines overbook their flights by up to 10% in anticipation of passengers who do not show up. CAB's Resolution No. 28 suspends the provision on overbooking until further notice.The CAB resolutions is said to increase the cost of airline operations which will force the budget airlines to raise their fares which may result to stop offering value fares such as the famous piso fare. On the other hand, Resolution No. 29 suspends the "no refund, no re-booking" conditions imposed by airlines on certain low-cost fares for domestic flights.
After reading the issued advisory on Cebu Pacific Air facebook page, in no time it was flooded by hot dissenting opinions against the company, but there are those who remain cool with the airline company saying that the overbooking and no-refund and no re-booking policies is a universal practice for airlines. Others would just simply said "Goodbye to Philippine Tourism" of which in some point I would like to agree, because undeniably air fare promos is making the Philippine tourism industry alive. 
So what can you say about this?