Cebu Pacific takes control of AirSwift for PHP 1.75B from Ayala
Low-cost carrier Cebu Pacific acquires boutique airline AirSwift from Ayala-backed ALI Capital Corporation for PHP 1.75 billion.
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| Cebu Pacific Air |
Cebu Pacific strengthens network
Following this transaction, Cebu Pacific would now have the advantage of boosting its network with a route to a tourist destination, El Nido, Palawan.
AirSwift flies to El Nido from Manila and Clark air hubs, as well as from El Nido to Cebu, Boracay, Coron, and Bohol.
This came just three months after Cebu Pacific bared its plan to buy the airline.
This strategic decision allows both organizations to focus on their respective core businesses, enhancing operational focus and efficiency, and marks an exciting new chapter for both AirSwift and Cebu Pacific, Cebu Air Inc. said in an issued statement.
Cebu Pacific is targeting to mount more flights this year, carrying 24 million passengers, which is higher than the 20 million passengers in 2023.
The company has a wide network, covering 34 local destinations and 25 international markets.
Source: The Philippine Daily Inquirer
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