Cebu Pacific, operated by Cebu Air Inc., has acquired Ayala-led ALI Capital Corp.’s boutique airline AirSwift for P1.75 billion, a move that expands its reach to El Nido, Palawan, a popular tourist destination. The deal is part of the Gokongwei-led airline’s strategy to enhance its operations by tapping into key routes.
“This strategic decision allows both organizations to focus on their core businesses, enhancing operational focus and efficiency, and marks an exciting new chapter for both AirSwift and Cebu Pacific,” Cebu Air Inc. announced in a statement on Monday.
AirSwift, which operates flights from Manila and Clark to El Nido, and routes from El Nido to Cebu, Boracay, Coron, and Bohol, was also considering other buyers before Cebu Pacific finalized the acquisition.
This acquisition follows Cebu Pacific’s recent P1.4-trillion aircraft deal with Airbus, marking the largest transaction in Philippine aviation history. The agreement includes the purchase of up to 152 new A321neo aircraft, with deliveries expected to begin in 2029. This move aims to further strengthen Cebu Pacific’s fleet for enhanced domestic operations.
