Cebu Pacific Sells Majority Stake in 1Aviation

Cebu Air, Inc., the listed operator of Cebu Pacific, on Monday 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% of its shares in 1Aviation Groundhandling Services Corp. to the Philippine Airport Ground Support Solutions, Inc. (PAGSS), led by Jefferson G. Cheng.

Read more: http://bworldonline.com/cebu-pacific-sells-majority-stake-in-1aviation/