The P1.75-billion deal, which requires the approval of regulators, will allow Cebu Pacific to add El Nido to its network, further strengthening its position as the country’s largest carrier by fleet size and domestic market share.
“I think, over time, we will integrate it,” Cebu Pacific president and chief commercial officer Xander Lao told InsiderPH in a recent interview.
He noted the process could take a few years but emphasized there was no rush due to AirSWIFT’s strong appeal among foreign travelers.
This is Cebu Pacific’s first airline acquisition since its $15-million purchase of Tigerair Philippines over a decade ago, a brand that was ultimately retired.
Operated by Ayala Land, AirSWIFT flies five ATR aircraft on short routes from Manila and Clark Airport. Its destinations include Coron and El Nido in Palawan, Boracay, Cebu, Bohol, and Sicogon.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
