VnExpress International
The most read Vietnamese newspaper
Vietnamese Edition
| Contact us | Follow us on       
Business DataSpeaks Property Markets Companies Economy Exchange rate Money Quiz
reddit Share via X Print

Cebu Pacific buys out local carrier in $31M deal

By Dat Nguyen   October 7, 2024 | 11:09 pm PT
Cebu Pacific buys out local carrier in $31M deal
An aircraft of AirSWIFT. Photo courtesy of the airline
Philippines’ airline Cebu Pacific has fully acquired local carrier AirSWIFT for PHP1.75 billion (US$31 million) to expand its flight network.

AirSWIFT, which mostly caters to the leisure travel market with four short-haul aircraft, will add popular tourist spots in the Philippines such as Boracay, Nido and El Nido to Cebu’s network, FlightGlobal reported.

Cebu Pacific’s finance chief Mike Cezar said that AirSWIFT’s "niche operation" complements Cebu’s own regional business.

Cebu has been ramping up its expansion with new routes and aircraft.

The airline earlier this month signed a deal to purchase up to 152 Airbus narrow-body aircraft.

This year it has relaunched routes to Taiwan, Hong Kong, Singapore, and opened a new direct route between Manila and Thailand's Chiang Mai.

 
 
go to top