BUSINESS
Advocates Philippines
Cebu Pacific Soars Higher: Buys Ayala's AirSwift After Landmark Aircraft Order
Photo credit: Cebu Pacific
Cebu Pacific isn’t slowing down anytime soon. Just after making headlines for placing the biggest single aircraft order in Philippine aviation history, they’re back in the news—this time for acquiring an entire airline.
Yes, you read that right. Cebu Pacific just announced that they’ve purchased AirSwift, a boutique airline previously owned by Ayala’s ALI Capital Corp., making them 100% owners. The announcement came through a disclosure statement to the Philippine Stock Exchange (PSE), highlighting Cebu Pacific’s ambitious growth plans and its commitment to expanding its network and services.
This acquisition was approved by Cebu Pacific’s Board of Directors and is a major milestone for the company, giving it greater control over the domestic leisure travel market. So what does this mean for both Cebu Pacific and AirSwift?
For Cebu Pacific, it’s all about strengthening its position in the market and optimizing its operations to serve passengers better. Meanwhile, AirSwift, known for its niche in the domestic leisure travel space, will continue running its show just as before, with no changes to its current flight schedules or services.
If you’re a frequent flyer to some of the Philippines’ top tourist destinations like El Nido, Cebu, Boracay, Coron, and Bohol, you’ll be happy to know that AirSwift’s routes remain intact. In fact, with Cebu Pacific backing it up, there’s potential for even better connectivity and more competitive offerings in the future.
The deal makes perfect sense for both parties. Ayala Land, Inc. (ALI)—AirSwift’s former parent company—is focusing on its core property business, while Cebu Pacific is taking this opportunity to bolster its presence in the domestic market. With this acquisition, Cebu Pacific ensures that AirSwift continues to be a favorite among leisure travelers, providing the same seamless service it’s known for.
So, what’s next for Cebu Pacific? After adding more aircraft to its fleet and now an entire airline to its portfolio, it seems like the sky’s the limit for this aviation giant! Stay tuned for more updates as Cebu Pacific continues to shape the future of Philippine aviation.
Yes, you read that right. Cebu Pacific just announced that they’ve purchased AirSwift, a boutique airline previously owned by Ayala’s ALI Capital Corp., making them 100% owners. The announcement came through a disclosure statement to the Philippine Stock Exchange (PSE), highlighting Cebu Pacific’s ambitious growth plans and its commitment to expanding its network and services.
This acquisition was approved by Cebu Pacific’s Board of Directors and is a major milestone for the company, giving it greater control over the domestic leisure travel market. So what does this mean for both Cebu Pacific and AirSwift?
For Cebu Pacific, it’s all about strengthening its position in the market and optimizing its operations to serve passengers better. Meanwhile, AirSwift, known for its niche in the domestic leisure travel space, will continue running its show just as before, with no changes to its current flight schedules or services.
If you’re a frequent flyer to some of the Philippines’ top tourist destinations like El Nido, Cebu, Boracay, Coron, and Bohol, you’ll be happy to know that AirSwift’s routes remain intact. In fact, with Cebu Pacific backing it up, there’s potential for even better connectivity and more competitive offerings in the future.
The deal makes perfect sense for both parties. Ayala Land, Inc. (ALI)—AirSwift’s former parent company—is focusing on its core property business, while Cebu Pacific is taking this opportunity to bolster its presence in the domestic market. With this acquisition, Cebu Pacific ensures that AirSwift continues to be a favorite among leisure travelers, providing the same seamless service it’s known for.
So, what’s next for Cebu Pacific? After adding more aircraft to its fleet and now an entire airline to its portfolio, it seems like the sky’s the limit for this aviation giant! Stay tuned for more updates as Cebu Pacific continues to shape the future of Philippine aviation.
Oct 7, 2024
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