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Ayala Land Inc. is in talks with several airline operators, including Cebu Pacific, for the sale of its boutique airline, AirSwift Transport, Inc.
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ALI vice president and head of leasing and hospitality Mariana Zobel de Ayala told reporters they are “entertaining several” airline operators for the sale of AirSWIFT
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Zobel de Ayala said talks with Cebu Pacific are “progressing” but that “the terms are not confirmed yet”
Ayala Land Inc. (ALI) is in talks with several airline operators, including Cebu Pacific, for the sale of its boutique airline, AirSwift Transport, Inc.
ALI vice president and head of leasing and hospitality Mariana Zobel de Ayala told reporters they are “entertaining several” airline operators for the sale of AirSWIFT as they hope to continue focusing on their core competence, which is land development.
Zobel de Ayala said talks with Cebu Pacific are “progressing” but that “the terms are not confirmed yet.”
Cebu Pacific earlier confirmed exploratory talks with ALI for the possible acquisition of AirSWIFT and also noted that but that “nothing definitive has been agreed upon.”
“Cebu Pacific is always on the lookout for opportunities to grow and expand its network, including partnerships with other parties,” the budget airline said.
ALI in a regulatory disclosure on August 9 said appropriate disclosures will be made once a definitive agreement has been reached.
AirSWIFT was founded in 2002 as Island Transvoyager and was acquired by Ayala in 2012. In October 2015, Island Transvoyager was rebranded as AirSWIFT.
AirSWIFT currently offers domestic flights in the Philippines including Bohol, Boracay, Cebu, Clark, Coron, El Nido, Manila, Romblon, and Sicogon. The airline claims to be the only boutique commercial carrier in the Philippines that is ISO-9001:2015 certified.
