Cebu Pacific “shelves” IPO plan; but fleet expansion not affected
Cebu Pacific President, Lance Gokongwei, stated the airline has shelved plans for an IPO, originally scheduled in Feb-08, stating it would instead meet its financing requirements through loans and internally generated funds. According to Mr Gokongwei, "in this environment, nobody is going to market." [1236 words]
Unlock the following content in this report:
- To more than double fleet by FY14
- Fuel glitch: Cebu to implement a range of cost-cutting measures
- Cuts China services; but domestic expansion from Manila
- New home in Terminal 3 at Manila Ninoy Aquino
Graphs and data:
- Asia Pacific Airlines planning IPOs
- Cebu Pacific fleet growth plan: Aug-08 to FY2014
- 2007 domestic travel growth (%)
- Cebu Pacific international capacity share (seats) by country: Week commencing 28-Jul-08
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