PBBM welcomes Cebu Pacific’s P1.4-trillion fleet expansion; CEB CEO says acquisition plan shows confidence in PHL economy

📆 02/07/2024 10:02 a. m.
📰 BusinessMirror

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Confidence in the country's economic growth direction prompted Gokongwei-led carrier Cebu Pacific (CEB) to push through its P1.4-trillion acquisition plan to expand its operations. CEB Chief Executive Officer Michael Szucs made the remark during his courtesy call with President Ferdinand R. Marcos, Jr. last Tuesday.

Confidence in the country’s economic growth direction prompted Gokongwei-led carrier Cebu Pacific to push through its P1.4-trillion acquisition plan to expand its operations.

Szucs was accompanied by Lance Gokongwei, president and CEO of JG Summit Holdings, Inc., which owns Cebu Pacific, during the meeting. He and Gokongwei informed Marcos about CEB’s memorandum of understanding for the procurement of 152 airbus planes from Airbus. The purchase agreement is expected to be completed in the third quarter of the year.

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