The parent of Philippines budget carrier Cebu Pacific has secured a much-needed $250 million in fresh capital. It will receive the funds in convertible bonds with various investment firms including the local affiliate of major US based airline investor Indigo Partners LLC.
Its aviation portfolio includes Frontier Airlines, Volaris, Wizz Air and Chile based JetSMART. International Finance Corp and the IFC Emerging Asia Fund are also contributing.
Cebu Air Inc also recently signed a long term loan facility with several Philippines banks.
