Cebu Pacific to acquire Tigerair Philippines

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Cebu_PacificThe Philippine’s largest discount carrier Cebu Air Inc., or Cebu Pacific, is seeking to acquire the Philippine unit of Singaporean low-cost airline Tiger Airways Holdings Ltd. in a move to widen market share as competition also prompts its rivals to consolidate, the Inquirer reported.

Should the deal be approved, Cebu Air, a unit of Gokongwei-led conglomerate JG Summit Holdings, could end up owning 100 per cent of Tigerair Philippines, Civil Aeronautics Board executive director Carmelo Arcilla said according to the report.

Cebu Pacific is seeking to widen its market presence amid stiff competition from rivals like flag carrier Philippine Airlines and the local units of Malaysia’s AirAsia Bhd. AirAsia is separately seeking to increase its minority stake in AirAsia Zest.

Cebu Pacific flew half of the 15.41 million passengers that took domestic flights during the first nine months of 2013. The remainder was divided among five other carriers, led by chief rival Philippine Airlines and its sister company, PAL Express.

Tigerair Philippines, which has been posting uneven financial results, cornered 4.7 per cent of domestic air travel during the period. In terms of international flights, Cebu Pacific is the second biggest local carrier at 16 per cent while Tigerair Philippines has about 1.5 per cent in terms of passenger volume.

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Reading Time: 1 minute

The Philippine’s largest discount carrier Cebu Air Inc., or Cebu Pacific, is seeking to acquire the Philippine unit of Singaporean low-cost airline Tiger Airways Holdings Ltd. in a move to widen market share as competition also prompts its rivals to consolidate, the Inquirer reported.

Reading Time: 1 minute

Cebu_PacificThe Philippine’s largest discount carrier Cebu Air Inc., or Cebu Pacific, is seeking to acquire the Philippine unit of Singaporean low-cost airline Tiger Airways Holdings Ltd. in a move to widen market share as competition also prompts its rivals to consolidate, the Inquirer reported.

Should the deal be approved, Cebu Air, a unit of Gokongwei-led conglomerate JG Summit Holdings, could end up owning 100 per cent of Tigerair Philippines, Civil Aeronautics Board executive director Carmelo Arcilla said according to the report.

Cebu Pacific is seeking to widen its market presence amid stiff competition from rivals like flag carrier Philippine Airlines and the local units of Malaysia’s AirAsia Bhd. AirAsia is separately seeking to increase its minority stake in AirAsia Zest.

Cebu Pacific flew half of the 15.41 million passengers that took domestic flights during the first nine months of 2013. The remainder was divided among five other carriers, led by chief rival Philippine Airlines and its sister company, PAL Express.

Tigerair Philippines, which has been posting uneven financial results, cornered 4.7 per cent of domestic air travel during the period. In terms of international flights, Cebu Pacific is the second biggest local carrier at 16 per cent while Tigerair Philippines has about 1.5 per cent in terms of passenger volume.

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