Philippines’ Cebu Air refunds $153m to customers
Cebu Air, the largest Philippine budget carrier, said it refunded 7.7b pesos ($153m) to customers, completing requests for reimbursements that were filed until June due to the pandemic. The airline processed 991,764 requests and continues to work with customers whose applications are still pending, Cebu Air said. Cebu Air in May raised $250m through the sale of convertible bonds, providing the carrier with funds to help withstand the impact of the pandemic. The company’s net loss widened to 7.3b pesos in the first quarter, from 1.18b pesos a year earlier, as the coronavirus outbreak cut passenger revenue by 92%.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-08-09/unaligned/philippines2019-cebu-air-refunds-153m-to-customers
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Philippines’ Cebu Air refunds $153m to customers
Cebu Air, the largest Philippine budget carrier, said it refunded 7.7b pesos ($153m) to customers, completing requests for reimbursements that were filed until June due to the pandemic. The airline processed 991,764 requests and continues to work with customers whose applications are still pending, Cebu Air said. Cebu Air in May raised $250m through the sale of convertible bonds, providing the carrier with funds to help withstand the impact of the pandemic. The company’s net loss widened to 7.3b pesos in the first quarter, from 1.18b pesos a year earlier, as the coronavirus outbreak cut passenger revenue by 92%.<br/>
