endIndex:
Metro Manila (CNN Philippines, May 10) The operator of low-cost carrier Cebu Pacific has raised $250 million (around ₱11.96 billion) in fresh funds as it continues to face financial hemorrhage with a net loss of ₱7.29 billion in the first quarter due to lingering coronavirus restrictions.
In a statement issued Monday, listed Cebu Air Inc. (CEB) said the multimillion-dollar investment from the IFC, the IFC Emerging Asia Fund a private equity fund managed by the IFC Asset Management Company and American private equity firm Indigo Partners could provide longer liquidity to help the company withstand the effects of the pandemic until travel demand recovers.
PH airline Cebu Pacific secures $250m from IFC, Indigo Partners
dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.
Cebu Air bleeds P22 2-B in 2020 amid COVID-19 pandemic
gmanetwork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gmanetwork.com Daily Mail and Mail on Sunday newspapers.
Cebu Pacific secures $329 million loan from local syndicate
flightglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from flightglobal.com Daily Mail and Mail on Sunday newspapers.
By TED CORDERO, GMA News
Published March 5, 2021 12:28pm Gokongwei-led budget carrier Cebu Pacific said Friday it has signed a P16-billion loan deal with several domestic banks as it looks for various funding sources to finance its operations, which was adversely affected by the COVID-19 pandemic. In a disclosure to the Philippine Stock Exchange, Cebu Air Inc., the operator of Cebu Pacific, said it signed a 10-year term loan facility with state-run Development Bank of the Philippines (DBP) and Land Bank of the Philippines. Private banks Asia United Bank Corporation (AUB), Bank of the Philippine Islands (BPI), Metropolitan Bank & Trust Company, and Union Bank of the Philippines (“UBP”) also joined as lenders in the P16-billion term loan facility.