Cebu Pacific Air (5J, Manila Ninoy Aquino Int’l) has secured a PHP16 billion peso (USD206 million) 10-year loan from a syndicate of domestic banks in what is being punted as a sign of confidence in the carrier and the recovery of the Philippine economy.

The loan also coincides with the launch of the Philippines’ COVID-19 vaccination programme, which, it is hoped, will restore passenger confidence in flying.

The low-cost carrier in a statement said it would use the proceeds of the loan to fund its capital…

Source: ch aviation
Read more: Cebu Pacific borrows ₱16bn from Philippine banks