Cebu Pacific has signed an agreement with three international financial institutions for the private placement of $250 million in convertible bonds, with the transaction expected to complete in the following weeks.
The Chinese airline industry is forecast to be about CNY30 billion ($4.6 billion) in the red for the quarter ended 31 March, narrowing its losses year on year amid an improvement in “recovery momentum”.
The latest round of passenger traffic figures exposes the stark difference in fortunes being experienced by carriers in the Asia-Pacific region that rely on international traffic versus those that can fall back on large domestic markets.
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