Cebu Air Inc’s board of directors approved the creation and implementation of a share buyback programme involving USD46.3 million (PHP2 billion), approximately 4.22% of the company’s current market capitalisation. The programme hopes to stem the price decline of its shares on the Philippine Stock Exchange.
The carrier listed in late Oct-2011. Shares in the carrier jumped 10.1% in trading on 01-Mar-2011.
Tiger Airways announced that of the proceeds raised from the company’s initial public offering, USD2.9 million (SGD3.7 million) has been used to repay outstanding short-term loans and USD17.2 million (SGD21.9 million) has been utilised to fund the acquisition of aircraft and associated pre-delivery payments. The company will have disbursed an aggregate of USD164 million (SGD208.9 million) of the net proceeds of the IPO.
- Passenger numbers: 3.7 million, +9.5% year-on-year;
- Passenger load factor: 80.9%, -0.3 ppt;
- Qantas Domestic: 76.2%, -2.2 ppts;
- Qantas International: 86.5%, +2.0 ppts;
- Jetstar Domestic: 76.5%, -5.3 ppts;
- Jetstar International: 79.7%, +1.2 ppts;
- QantasLink: 63.8%, +1.6 ppts;
- Jetstar Asia: 71.8%, -5.8 ppts.
Selected APAD daily share price movements (% change): 01-Mar-2011
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