Tag: restructuring
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CEB board OKs restructuring plan following Airbus commitment
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CEBU Air, Inc. (CEB), operator of budget carrier Cebu Pacific, announced on Wednesday its board’s approval of a restructuring plan to use the company’s paid-in capital of P20.66 billion to address its earnings deficit. This follows the company’s commitment to purchase up to 152 A321 new engine option (NEO) aircraft…