AirSWIFT, which is fully owned by Ayala Land, could become Cebu Pacific's next big bet, although nothing is definitive yet
This is AI generated summarization, which may have errors. For context, always refer to the full article.Photo by Lance Spencer Yu/RapplerAirSWIFT, which is fully owned by Ayala Land, could become Cebu Pacific's next big bet, although nothing is definitive yetisn’t done making blockbuster deals as it now confirms that it’s in “exploratory talks” to acquire the Ayala Group’s boutique airline AirSWIFT.
“Cebu Pacific is always on the lookout for opportunities to grow and expand its network, including partnership with other parties. We confirm that CEB is currently engaged in exploratory talks with Ayala Land Inc. but nothing definitive has been agreed upon,” the Gokongwei-led airline said in a clarification of news reports filed through the Philippine Stock Exchange.that said Cebu Pacific could finalize the acquisition of AirSWIFT within the next two months.
AirSWIFT is fully owned by Ayala Land. The boutique airline serves the requirements of the different resorts under Ayala Land’s management. Crucially, AirSWIFT also serves El Nido Resorts, which has 187 rooms across its four island resorts in Pangulasian, Lagen, Miniloc, and Apulit. This wouldn’t be the first time that the Zobels and Gokongweis have been in talks to acquire a company from the other. Throughout 2023, the two mega conglomerates have been working to finalize the merger between, which would see the Ayala-led bank absorb the smaller Gokongwei-owned entity.
Cebu Pacific also recently announced its intention purchase up to 152 aircraft from Airbus. Based on list prices, the total bill for the A321neo and A320neo planes could reach up to P1.4 trillion in what would become the
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