![](\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEipSiVQYQGmyol2zz_UE68FjVEbUb7pNT3RU6C5pLiKyD7OWIHdN3Cfw04yzghxDbRpn-Pdb_DZ7pfXPvnDBeMHxhnICnxE2wbtiW6w8fendw9UTUebr8e6i4xW_FDtxnCXLgc75oOpRV57y5PRm5GLYE3FgVp9jD3cgb4Q-dWfCfQT-KPWiVIoxShN5sc\/w644-h360\/1aviation%20groundhandling%20services%20corp.png\")
<\/a><\/div>\n\u00a030 October 2024<\/span><\/p>\nLow-cost carrier Cebu
\nPacific (CEB) has taken back majority control of <\/span>1Aviation Groundhandling Services Corp.<\/span> that provides ground handling services to the airline and its subsidiaries operating several airports across the country.<\/span> <\/p>\nIn a
\ndisclosure to the Philippine Stock Exchange, Cebu Pacific\u2019s parent Cebu
\nAir Inc. said it has entered into a debt-to-equity conversion<\/b> with
\n1Aviation Groundhandling Services Corp. to recapitalize the company to handle the growing demands of the airline.
<\/span><\/p>\nThe
\n swap will wipe out previous advances and loans issued by Cebu Air to
\n1Aviation, amounting to P113 million, by converting them into equity, as
\n approved by shareholders.<\/span><\/p>\n After recapitalization, Cheng
\n and PAGSS will control the remaining 40 percent in 1Aviation
\nin replacement of the P34.23 million owed to Cheng and P2.78 million
\nborrowed from PAGSS.<\/span><\/p>\n\u00a0<\/span><\/p>\nThe airline intends to integrate 1Aviation\u2019s services into Cebu Pacific\u2019s to cut operational costs<\/b> and enhance service quality<\/b> on ground handling and logistical support.\u00a0<\/span><\/p>\n1Aviation, founded in 2018, operates in 34 airports, including the Ninoy Aquino International Airport, through its 6,224 employees.
<\/span><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"\u00a030 October 2024 Low-cost carrier Cebu Pacific (CEB) has taken back majority control of 1Aviation Groundhandling Services Corp. that provides ground handling services to the airline and its subsidiaries operating several airports across the country. In a disclosure to the Philippine Stock Exchange, Cebu Pacific\u2019s parent Cebu Air Inc. said it has entered into a […]<\/p>\n","protected":false},"author":1,"featured_media":130916,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12028],"tags":[56921,5167,31635,22661,4013,22662,49876],"dealstore":[],"offerexpiration":[],"class_list":["post-130915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-airline","tag-1aviation","tag-aviation","tag-ceb","tag-centennial","tag-exciting","tag-philippine","tag-retakes"],"yoast_head":"\n
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<\/a><\/div>\n