Cebu Pacific acquires AirSWIFT

On 7 October 2024, Cebu Pacific Air announced in a statement to the Manila stock exchange that it has signed an agreement with ALI Capital Corp. to take-over 100% of the shares of AirSWIFT. The deal is subject to regulator approval but is expected to be closed at the end of this year, or ealy next year.

According to the statement, AirSWIFT will continue to operate as it does today, while both companies can work closely on "operational focus and efficiencies".

AirSWIFT launched operations in 2015. It's previous owner, the ALI Capital Corp is a subsidiary of Ayala Land, Philippines' largest land and property developer. Initially, it was set-up to bring tourists to the resorts operated by Ayala Land but has later developed into a scheduled carrier with its main base at Manila. Currently, its fleet is made-up of two ATR42-600s and three ATR72-600s.

Cebu Pacific's is also an ATR-operator through its Cebgo-subsidiary, that flies with one ATR72-500 and fifteen ATR72-600s.

Photo by AirSWIFT.