The Philippines second largest carrier and the country’s largest budget airlines, Cebu Pacific is buying 100% of Tigerair Philippines as confirmed by Singapore’s Tiger Airways Holdings Ltd.
According to a news report from Rappler, Singapore’s Tiger Airways confirmed in a disclosure to the Singapore Exchange on Wednesday, January 8 that the deal includes its 40% stake in its Philippine affiliate.
The Tiger Airways stated that it is selling its stake, but will continue to operate routes between Singapore and Philippines under a strategic alliance with Cebu Pacific.
The partnership with Cebu Pacific according to Tigerair Group CEO Koay Peng Yen is consistent with the company’s (–foul word(s) removed–)et-light strategy, and builds upon alliances.
Meanwhile Cebu Pacific President and CEO Lance Gokongwei stated that “this strategic alliance will allow both Cebu Pacific and Tigerair to leverage our extensive networks spanning from North Asia, ASEAN, Australia, India and all the way to the Middle East.” he stated.
Here’s the Cebu Pacific & Tigerair Philippines Tieup Highlights:
- Both carriers will jointly operate common routes between Singapore and Philippines
- Both will jointly sell and market their routes using interline arrangement, thereby expanding their network coverage and enhancing connectivity
- Both will brand themselves as partners in their respective communication materials
The Tigerair Philippines fleet is composed of 5 aircraft while Cebu Pacific operates 48 aircraft to 24 international and 33 Philippine cities in its network.