Currently, there are 23 (passenger and cargo) licensed airlines operating in the Philippines but only 5 (PAL, Cebu Pacific, AirPhil, SEAIR and Zest Air) of them are actively competing with scheduled domestic flights to serve the market and 3 out of this 5 serves a few international destinations as well.
With regards to its safety performance , I bothered to check their recent record, listing from the zero to the most number of fatalities starting from year 2000 to present records.
1.
SEAIR (http://www.flyseair.com/) South East Asian Airlines - bursts tire upon landing in Caticlan last July 31,2009 - no reported fatality and no injury.
2.
Cebu Pacific (
Cebu Pacific Air - It's time everyone flies) - aircraft's left main gear bursts upon landing in Zamboanga City on May 3, 2006- airport was closed for 23 hours due to the blocked runway;no reported fatality and no injury.
3
. PAL (
Philippine Airlines | Home) -overshoots Bancasi Airport runway in Butuan City on October 27,2007- no reported fatalities with 19 persons injured.
4.
ZEST Air (
Zest Airways Inc.) - (formerly Asian Spirit) undershots runway in Caticlan on January 11, 2009 and overshoots runway in same airport- Caticlan on June 25, 2009- no reported fatality and injury for both accidents.
5.
Air Phil - (
Air Philippines - PAL Express) Flight 541 crashed near F. Bangoy Airport in Davao City on April 19, 2000 - 131 people died.