Cebu Pacific in the Philippines announced it would be buying out the majority stake of SIA Engineering in their joint venture Aviation Partnership Philippines Corporation (APPC). Cebu said it will pay US$5.6 million in cash to buy out SIA Engineering in the joint venture that was established in 2005 to maintain Cebu’s Airbus fleet and other aircraft. APPC will become a wholly-owned subsidiary of Cebu. The airline said the buyout was in line with its strategy to “align its line maintenance operations and objectives with its network and service requirements.”
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