Philippines: Cebu Pacific in talks with Ayala Land for acquisition of Airswift

AirSWIFT is a self-described 'boutique' airline servicing vacation destinations like El Nido, Boracay, and Coron

The Philippine STAR, Philippine Star

July 24, 2024

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Cebu Pacific confirmed a report that it is 'currently engaged in exploratory talks with Ayala Land over the potential acquisition of AirSWIFT, a self-described 'boutique' airline servicing vacation destinations like El Nido, Boracay, and Coron. CEB said that talks are still in the 'proposal' stage, and that it is 'always on the lookout for opportunities to grow and expand its newtork, including partnership with other parties.' The original reporting quoted sources as saying that a deal might be closed in 'one to two months or earlier', and CEB neither confirmed nor denied this timeline in its clarification.

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