Cebu Pacific reportedly plans to launch an IPO this year, to raise approximately PHP12 billion (USD262 million) through the issue of 125.3 million new common shares with a par value of PHP1.00 each on the Philippine Stock Exchange (GMANews.TV, 08-Mar-2010). The carrier also plans to sell 110.3 million shares for the same price, and 35.5 million shares owned by parent, JG Summit Holdings. 18.4 million additional shares will also be listed under the carrier’s employee stock option plan, at a 25% discount. Shares are to primarily be offered to foreign institutional investors, as the size of the sale is considered too large for the Philippines alone. Cebu Pacific had originally planned to launch an IPO in 2008, but suspended plans due to volatile markets.
Cebu Pacific planning to launch IPO this year
You may also be interested in the following articles...
Cebu Pacific Air reconsiders Melbourne under Tigerair Australia partnership as Sydney route improves
Cebu Pacific Air is again looking at expanding in the Australia market by launching flights to Melbourne. Efforts in recent months to improve Cebu Pacific’s performance in Sydney, which was launched in 2014, are bearing fruit and the airline is confident with Melbourne it can stimulate further demand in the Philippines-Australia market.
The LCC initially added Melbourne to its network plan in 2015 after the Philippines and Australia forged an extended air services agreement. But Cebu Pacific subsequently decided to shelve plans to launch Melbourne, and has instead been using additional A330 capacity to expand in its domestic and regional international market.
Melbourne is now back on the agenda and is the next priority – leapfrogging Honolulu – for Cebu Pacific’s long haul operation. A new partnership with Melbourne-based Tigerair Australia is a key driver in making Manila-Melbourne a viable route, along with the anticipated rapid growth in Australian visitor numbers to the Philippines.
HNA's Avolon group to acquire CIT Commercial Air, creating world’s third largest aircraft lessor
HNA Group’s remarkable spending spree continues, with the announcement that its Avolon subsidiary will acquire CIT Commercial Air, the aircraft leasing arm of CIT Group.
The USD10 billion deal will create the world’s third largest lessor - and they may be more to come yet.
Avolon itself was only recently acquired by HNA Group, with the USD2.7 billion purchase agreement being finalised in Jan-2016, via Bohai Capital Holdings.
Avolon is now the core aircraft leasing brand for the HNA Group. Including assets from Hong Kong Aviation Capital, Bohai Capital and several smaller HNA Group leasing firms, Avolon has a fleet of nearly 250 aircraft and almost 200 more on order.