The founder of budget airline Cebu Pacific John Gokongwei Jr, has passed away at the age of 93. Media reports claim the news was confirmed by his son, Lance, in a text message sent out on Sunday. (November 10). Gokongwei Jr launched Philippines-based Cebu Pacific in 1996, with the business now headed by Lance as CEO. Gokongwei was the founder of JG Summit Holdings, the Philippines’ third-largest conglomerate, with a market capitalisation of $13.1 billion and one of the widest footprints in the region.

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