Cebu Pacific Acquires Air Swift for Approximately €28 million

 

Cebu Air, Inc, operating as Cebu Pacific, Philippine low cost - airline founded in 1988 member of Value Alliance and headquartered at Pasay in Metro Manila, the Asia's first low - cost airline offering scheduled flights with domestic and international destinations has acquired Airswift Transport Inc for a sum of approximately €28 million.

Airswift formerly ITI Air is a boutique, regional airline founded in 2002 operates a private airport in El Nido Airport and serves the operational base for the airline as well as of its affiliated company El Nido Resort.

Airswwift was previously owned by Ayala Corporation founded in 1834 by Domingo Roxas and Antonio de Ayala, an important Philippine holding company based in Makati - Manila, a group operates in different areas such as banking, electronics, information technology, real estate, renewable energy, telecommunications and water distribution.

As reported by travelmole.com, famous travel industry portal Airswift which operates flights to El Nido, Palawan from Manila and Clark from Cebu, Boracay, Coron and Bohol will temporarily continue to operate its flights with the previous schedule even after the integration into Cebu Pacific which currently boast 35 national and 26 international destinations.

Link - https://www.ttgitalia.com/compagnie-aeree/la-low-cost-filippina-cebu-pacific-acquisisce-airswift-II21380679

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