Cebu Pacific, a popular low-cost carrier in the Philippines, recently made a significant move by signing a share purchase agreement worth Php1.75 billion ($30 million) to acquire 100% of AirSWIFT Transport from ALI Capital. This acquisition is a strategic decision that has been given the green light by the Board of Directors of both companies. AirSWIFT Transport, previously owned by Ayala Corporation, has been known for its exclusive services catering to the leisure domestic market in the Philippines, particularly the island and resort destinations of El Nido, Palawan, and Boracay.

The deal means that Cebu Pacific will now have access to five additional turboprops from AirSWIFT Transport, enhancing its fleet capabilities. Alfonso Javier Reyes, President of ALI Capital, expressed optimism about the partnership, stating, “Our investment in AirSWIFT has been a key enabler in the growth of El Nido as a world-class tourist destination. With this transaction, we are hopeful that the expertise of Cebu Pacific will bring lower cost options and greater accessibility to El Nido.”

Upon integration, Cebu Pacific plans to incorporate El Nido into its routes, expanding its network to benefit both domestic and international travelers. Xander Lao, President and Chief Commercial Officer of Cebu Pacific, emphasized the airline’s commitment to enhancing connectivity to various Philippine destinations while keeping fares affordable. Lao mentioned, “We are excited to play our part in increasing accessibility to local destinations that have high potential and are world renowned for having some of the best beaches in the world.”

This acquisition marks a significant milestone for Cebu Pacific, strengthening its position in the market and supporting tourism and economic growth in the region. Stay updated on more aviation industry news and developments by following Pilotcenter.net News.