Done deal! Cebu Air buys Tigerair stake for $15m
Cebu Air Inc., operator of discount carrier Cebu Pacific, on January 8 said it is fully acquiring Tigerair Philippines as part of a strategic alliance forged with Singapore’s Tigerair for codeshare and interline arrangements.
In a disclosure to the Philippine Stock Exchange, Cebu Pacific said the alliance gives both airlines the means to expand networks to more areas in Asia and the Pacific and Western Asia.
“This strategic alliance will allow both Cebu Pacific and Tigerair to leverage on our extensive networks spanning from North Asia, ASEAN, Australia, India, all the way to the Middle East,” Cebu Pacific president and CEO Lance Gokongwei said in a statement.
In a separate disclosure, Cebu Pacific said the acquisition of Tigerair Philippines was priced at $15 million. The acquisition cost includes 40 per cent stake of Tigerair and the remaining equity of Filipino partners in Tigerair Philippines. The Tigerair brand will remain separate from Cebu Pacific.
Cebu Air Inc., operator of discount carrier Cebu Pacific, on January 8 said it is fully acquiring Tigerair Philippines as part of a strategic alliance forged with Singapore's Tigerair for codeshare and interline arrangements. In a disclosure to the Philippine Stock Exchange, Cebu Pacific said the alliance gives both airlines the means to expand networks to more areas in Asia and the Pacific and Western Asia. “This strategic alliance will allow both Cebu Pacific and Tigerair to leverage on our extensive networks spanning from North Asia, ASEAN, Australia, India, all the way to the Middle East," Cebu Pacific president and...
Cebu Air Inc., operator of discount carrier Cebu Pacific, on January 8 said it is fully acquiring Tigerair Philippines as part of a strategic alliance forged with Singapore’s Tigerair for codeshare and interline arrangements.
In a disclosure to the Philippine Stock Exchange, Cebu Pacific said the alliance gives both airlines the means to expand networks to more areas in Asia and the Pacific and Western Asia.
“This strategic alliance will allow both Cebu Pacific and Tigerair to leverage on our extensive networks spanning from North Asia, ASEAN, Australia, India, all the way to the Middle East,” Cebu Pacific president and CEO Lance Gokongwei said in a statement.
In a separate disclosure, Cebu Pacific said the acquisition of Tigerair Philippines was priced at $15 million. The acquisition cost includes 40 per cent stake of Tigerair and the remaining equity of Filipino partners in Tigerair Philippines. The Tigerair brand will remain separate from Cebu Pacific.
