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Manila Standard Today — Cebu Pacific’s IPO set June

Cebu Air Inc., the airline company of business tycoon John Gokongwei, has advanced its plan to conduct an initial public offering to June this year instead of next year.

Cebu Pacific will join broadcasting giant GMA Network with its plan to conduct an IPO this June.

In separate filings with the Securities and Exchange Commission, the legal counsels of the two companies said their clients planned to offer their shares to the public in June and asked the commission to exempt them from the submission of an audited financial report for the first quarter of 2007.

Business Visayas: Cebu’s tourism to grow with more international flights

Tourism Secretary Joseph “Ace” Durano said Cebu’s tourism development got a boost with the decision of three airlines to open more flights to the central Philippine island.

Durano said airline company China Southern will launch its Shanghai-Cebu flights that will fly three times weekly starting this May.

”That first flight is going to be fully booked,” he said during his speech at the opening last Friday of the 3rd Tourism and Lifestyle Expo at SM City Cebu.