Cebu Pacific announced its initial public offering (IPO) will be priced at PHP125 per share with the carrier aiming to raise up to PHP26.8 billion (USD620 million) (AP, 08-Oct-2010). The share sale will be launched on 12-Oct-2010 and end on 19-Oct-2010. Listing on the local stock exchange is slated for 26-Oct-2010. A total of 214.6 million shares will be offered for sale, including 27.9 million over-allotment option shares. [more]
Cebu Pacific prices IPO at PHP125 per share
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Cebgo: expansion accelerates in 2017 as Cebu Pacific Group delays ATR 72-500 phase outs
The Cebu Pacific regional subsidiary Cebgo is accelerating fleet expansion in 2017, enabling it to launch several new routes. Cebgo now plans to expand its ATR 72 fleet by six aircraft in 2017, for a total of 18 aircraft – an increase of five aircraft compared to the group’s previous fleet plan.
Cebgo has already expanded its fleet by four aircraft over the past six months, for a total of 12 aircraft, with two ATR 72-600 deliveries in late 2016 and two more deliveries in early 2017. The LCC has used the additional aircraft to launch 10 new routes, including seven entirely new routes for the group and three routes previously served by big sister Cebu Pacific Air.
Cebgo plans to take delivery of another four ATR 72-600s by the end of 2017, while it has delayed the phase out of five ATR 72-500s. Cebgo’s seat capacity will increase by more than 20% in 2017, driving a 3% increase in domestic capacity at Cebu Pacific Group as mainline capacity will be flat.