×

Maintenance Repair & Overhaul Space Air Cargo

Home- Stories

Cebu Pacific Sells Majority Stake in 1Aviation

: Jul 5, 2018 - : 2:49 am

Cebu Air, Inc., the listed operator of Cebu Pacific, said it sold its majority stake in its ground-handling service subsidiary.

 

In a disclosure to the stock exchange, the Gokongwei-led company said it has sold 60 per cent of its shares in 1Aviation Groundhandling Services Corp. to the Philippine Airport Ground Support Solutions, Inc. (PAGSS), led by Jefferson G. Cheng, stated reports.

 

“Lance Y. Gokongwei, Chairman and President of Cebu Air, Inc., welcomed this development as this investment by Mr. Cheng and PAGSS brings decades of experience in ground handling for the benefit of airline passengers,” the company said.

 

PAGSS is a ground-handling service company based at the Ninoy Aquino International Airport (NAIA). It currently works with several airlines, such as Cathay Pacific, EVA Air, Singapore Airlines and Etihad.

 

Cebu Pacific created 1Aviation in March after Manila International Airport Authority did not renew the contract of MIASCOR Ground Handling Corp. due to incidents of luggage theft involving the latter’s employees. MIAA’s contract with MIASCOR ended on April 21.

 

MORE NEWS

Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.

Popular Posts

Copyright 2024. GBP. All Rights Reserved.

Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us