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Well, since Singapore based Tiger Airways become held 40% wonership of Seair, the low-cost airline has been in constant expansion. It currently flies from Manila to several major domestic destinations such as Cebu, Davao, Iloilo, Kalibo, and Puerto Princesa. But since the airline is still far from the level of Cebu Pacific and Airphil Express, the load factor for each flight is very low. I don't have the data but I can clearly see it from my last week's flight. I was flying Cebu-Manila-Cebu and the plane is just 50 or 60% full. And I am flying at 2-7PM time, which I expect to have the most crowded flight.
For the reason stated above, it is possible that Seair is encouraging more people to fly with them by lowering their last minute tickets. When my friend decided to cancel her original booking, she asked me to find a cheap flight the next day. And to my surprise, it only cost us 1700 Pesos. The booking was made 12 hours before the actual flight. The amount was relatively small compared to other airlines such as Cebu Pacific and Airphil Express where booking your flight at that proximity can cost you more than 3000 Pesos!
Disclaimer: This is only based on my latest experience. Things may change in the future. But if you need to have a cheap fare at a very near travel date, Tiger-SEAir is one of the first airlines to check.