Cebu Pacific offloads 60% stake in its ground handling unit

posted on 6th July 2018 by Justin Burns
Cebu Pacific offloads 60% stake in its ground handling unit

Cebu Pacific has given up its 60 per cent stake  in its ground handling unit 1Aviation and has given the shares to Phillipine Airport Ground Support Solutions and PAGSS shareholder – Jefferson G. Cheng.

In a stock exchange filing, the Filipino carrier said that nearly 700,000 shares were sold for an undisclosed figure.

The carrier said that relinquishing the shares will allow 1Aviation to become a better ground handler with the addition of more strategic partners.