Budget carrier Cebu Pacific is reportedly in discussions to acquire boutique airline AirSWIFT from Ayala Land Inc. (ALI), according to industry sources cited by The Philippine Star.
The potential deal, which could be finalized within two months, is expected to enhance Cebu Pacific’s domestic network and boost tourism in El Nido, Palawan.
AirSWIFT, originally founded in 2002 as Island Transvoyager Inc., has evolved from a small charter carrier into a boutique airline serving various destinations across the Philippines. The airline currently operates a fleet of five ATR aircraft, consisting of two ATR 42-600s and three ATR 72-600s.
The carrier serves eight destinations within the Philippines, including Cebu, Clark, Boracay, Bohol, and Manila. Notably, AirSWIFT operates El Nido Airport, a private airport in Palawan that serves as its main operating base. The airline also owns and operates Sicogon Airport in Iloilo province.
Cebu Pacific confirmed in a Philippine Stock Exchange disclosure that it is “currently engaged in exploratory talks with Ayala Land Inc. but nothing definitive has been agreed upon.”
The company stated that it is “always on the lookout for opportunities to grow and expand its network, including partnership with other parties.”
According to the news report, the potential sale of AirSWIFT could allow the Ayala Group to focus on their core competencies, as sources suggest that running an airline business is not among the group’s primary areas of expertise.
As negotiations continue, both Cebu Pacific and Ayala Land Inc. have declined to comment further on the potential acquisition.
Similar to AirSWIFT, Cebu Pacific, through subsidiary Cebgo, operates an extensive fleet of ATR 72-600 aircraft. This enables a simpler merging process between the two airlines, if the deal moves forward.
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