Cebu Air Inc., the operator of budget carrier Cebu Pacific, said on Wednesday its board of directors has approved a restructuring plan aimed at strengthening the company’s financial position.
The plan, according to a stock exchange filing, focuses on eliminating the company’s retained earnings deficit by utilizing its additional paid-in capital.
In 2023, Cebu Air swung to a profit, after recording a surge in revenues due to stronger passenger demand. The Gokongwei-led carrier is beefing up its operations in anticipation of more planes in the future. It has signed a memorandum of understanding with Airbus for the purchase of as much as 152 Airbus A321 new engine option jets.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cebu Pacific to run Cebu-Palawan flightsLOW-COST carrier Cebu Pacific is adding direct flights to San Vicente, Palawan, from Cebu starting October 24.
Read more »
Cebu Pacific to launch Cebu-San Vicente, Palawan route starting October 24Cebu Pacific is also holding a piso seat sale for the new route until June 26
Read more »
Cebu Pacific launches Cebu-San Vicente flights with P1 seat saleLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
BJ Mercantile Inc. hands over first Scania sleeper bus in PHL to GV Florida Transport Inc.BJ Mercantile Inc., the exclusive distributor of Scania trucks and buses in the country, recently unveiled the first Scania sleeper bus in the Philippines during the official handover ceremonies to GV Florida Transport Inc. GV Florida Transport Inc.
Read more »
Ramon Aboitiz Foundation Inc. plants over 1 million trees in Cebu with GCash supportA total of 1,150,000 mangroves and upland trees have been planted across key sites in Cebu since 2021, as part of a partnership between the Ramon Aboitiz Foundation Inc. (RAFI) and the Philippines’ leading finance app GCash.
Read more »
Ramon Aboitiz Foundation Inc. plants over 1 million trees in Cebu with GCash supportA total of 1,150,000 mangroves and upland trees have been planted across key sites in Cebu since 2021, as part of a partnership between the Ramon Aboitiz Foundation Inc. (RAFI) and the Philippines’ leading finance app GCash.
Read more »