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Cebu Pacific's JG Summit Holdings considers airports bid

1-Nov-2010 3:47 PM

Cebu Pacific CEO Lance Gokongwei stated JG Summit Holdings, which controls Cebu Pacific, is considering bidding for some of nine government-owned airports in the Philippines that are to be privatised from 2011 as part of USD9 billion infrastructure upgrade programme (Financial Times, 01-Nov-2010). The Gokongwei Group is a potential partner in a series of infrastructure construction projects being considered by the government. Mr Gokongwei stated any potential conflicts between airport and airline operations could be minimised by the design of the regulatory regime.

Cebu Pacific: “I think I could run an airport pretty well. If [airports] were privatised, it’s something I would look into," Lance Gokongwei, CEO. Source: Financial Times, 01-Nov-2010.