Philippine low-cost airline Cebu Pacific announced on Monday, October 7, that it will acquire 100 percent of the shares of regional airline Air Swift.
The acquisition is expected to be completed by the end of 2024 or early 2025, subject to regulatory approval. Although Air Swift's schedules and services will remain unchanged, Cebu Pacific plans to leverage operational synergies and increase efficiencies through the acquisition.
Air Swift, founded in 2002 and operating under its current name since 2015, operates regional flights from Manila and Clark to popular destinations such as El Nido. The airline has a fleet of five ATR aircraft and focuses mainly on tourism traffic to less developed but popular locations in the Philippines.
The acquisition will help Cebu Pacific expand its regional route network and gain a foothold in a highly tourism-driven market, particularly in destinations that are increasingly popular with domestic and foreign tourists.
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