Philippine-listed low-cost airline Cebu Pacific Air announced that it has approved a $250-million investment from International Finance Corporation (IFC), IFC Emerging Asia Fund, and the local affiliate of US private equity firm Indigo Partners.
In a disclosure to the Philippine Stock Exchange Monday, Cebu Air, the airline company that operates under the trade name Cebu Pacific Air, said its board of directors has approved the investment in the form of convertible bonds.
