Cebu Pacific is in talks with Ayala Land Inc. for the possible acquisition of AirSWIFT Airlines, a boutique airline serving popular island destinations.
Cebu Pacific, in a disclosure to the Philippine Stock Exchange, confirmed it started exploratory talks with ALI for the acquisition of AirSwift, but “nothing definitive has been agreed upon.”
“Cebu Pacific is always on the lookout for opportunities to grow and expand its network, including partnership with other parties,” the airline said.
“CEB’s track record of success means other businesses do prefer partnering with Cebu Pacific when it comes to aviation initiatives,” it said.
AirSWIFT Airlines operates as a boutique carrier servicing travelers to iconic Philippine destinations such as El Nido, Coron, Sicogon Island, Boracay, Bohol, Cebu, Romblon from Manila and other highly accessible airport terminals.
AirSwift carried 350,458 domestic passengers in 2023.
The airline was founded in 2002 as Island Transvoyager, with three Dornier 228 aircraft, but these were retired by early 2013 and replaced by ATR-42-600s after Ayala Capital Corp. acquired it in 2012.
Cebu Pacific earlier announced that it signed a binding memorandum of understanding (MOU) with Airbus for the purchase of up to 152 A321neo aircraft for $24 billion or P1.4 trillion based on list prices, the largest aircraft order in Philippine aviation history.
The purchase agreement to finalize the transaction is expected to be completed by the third quarter of the year.
Meanwhile, Cebu Pacific said it is launching direct flights from Cebu to Osaka starting Oct. 15 for as low as P1 one-way base fare.
“We thrilled to launch direct flights from Cebu to Osaka. With Japan being a top-of-mind destination for many Filipino travelers, the new route will surely give them the opportunity to visit one of the country’s dynamic cities,” CEB president and chief commercial officer Xander Lao said.
“We also hope that this launch can encourage more travelers from Japan to explore the beauty of the Philippines,” he said.
Starting Oct. 15, 2024, CEB will operate flights between Cebu and Osaka four times weekly or every Tuesday, Thursday, Sturday and Sunday. The airline also offers daily flights between Cebu and Narita.
Cebu Pacific will be the only airline offering direct flights between Cebu and Osaka.
Cebu Pacific flies to 35 domestic and 25 international destinations spread across Asia, Australia and the Middle East.
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