Philippines’ Cebu Pacific Confirms Talks to Buy AirSWIFT

Cebu Pacific Air, a major player in the Philippine aviation industry, has announced it is in active discussions to acquire AirSWIFT, the sole scheduled carrier servicing the emerging tourism destination of El Nido on Palawan Island. This potential acquisition, detailed in a July 22 filing with the Philippines Stock Exchange, could significantly enhance Cebu Pacific’s regional footprint.

AirSWIFT, currently owned by Ayala Corporation’s real estate division, Ayala Land Inc., operates both scheduled and charter flights primarily aimed at supporting the tourist flow to El Nido Resorts, a business also under the Ayala umbrella. According to ch-aviation PRO airlines data, AirSWIFT’s network includes key destinations such as Angeles City Clark International, Busuanga, Caticlan, Cebu, Manila, Panglao, and inter-island routes like Tablas to Manila. The fleet comprises two ATR42-600s and three ATR72-600s, supporting its robust domestic presence.

The disclosure by Cebu Pacific emphasizes that while discussions with Ayala Land are exploratory at this stage, no definitive agreement has been reached. However, Cebu Pacific is continually exploring growth opportunities, including strategic partnerships and network expansions. The acquisition of AirSWIFT would provide Cebu Pacific with direct access to El Nido, complementing its existing tourist-focused routes to Busuanga and San Vicente, which are also part of the Palawan archipelago.

Cebu Pacific’s extensive network covers 53 airports across 15 countries with a diverse fleet of 69 aircraft, and its subsidiary Cebgo enhances its domestic connectivity. The Gokongwei family, through CPAir Holdings Inc., holds a significant share in Cebu Pacific, integrating it into the broader JG Summit Holdings portfolio of enterprises, underlining the strategic business interests of one of the Philippines’ leading conglomerates.

This move underscores Cebu Pacific’s ambition to capitalize on the growing tourism market in El Nido, renowned for its pristine beaches and exceptional dive sites, by potentially integrating AirSWIFT into its extensive operation.

Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com