Cebu Pacific buys AirSwift for P1.75 billion

FILE PHOTO: The operator of Cebu Pacific bought Ayala-led ALI Capital Corp.’s boutique airline AirSwift for P1.75 billion, allowing the Gokongwei-led carrier to establish a route to popular tourist spot El Nido, Palawan. INQUIRER FILES

The operator of Cebu Pacific bought Ayala-led ALI Capital Corp.’s boutique airline AirSwift for P1.75 billion, allowing the Gokongwei-led carrier to establish a route to popular tourist spot El Nido, Palawan.

“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 a statement Monday.

AirSwift caters to flights from Manila and Clark to El Nido and from El Nido to Cebu, Boracay, Coron, and Bohol.

Back in July, the budget carrier shared its plan to acquire the boutique airline. AirSwift, around the same time, said it was also talking with other potential buyers.

Cebu Pacific sealed this acquisition after finalizing its P1.4-trillion aircraft order with European jet maker Airbus just last week.

On Wednesday evening, Cebu Pacific, Airbus, and engine manufacturer Pratt & Whitney signed the budget carrier’s landmark P1.4-trillion aircraft order for up to 152 jets, the biggest deal in Philippine aviation history.

This came about three months after the parties inked a binding memorandum of understanding for the purchase of A321neo (new engine option) aircraft.

Airbus will start delivering by 2029 the first batch of aircraft ordered by the budget carrier, which has been beefing up its fleet to strengthen domestic operations.