Cebu Pacific to buy Tigerair PhilippinesBy AP News Jan 08, 2014 5:44PM UTC
MANILA, Philippines (AP) — Philippine budget carrier Cebu Pacific says it will buy Tigerair Philippines for $15 million.
Cebu Pacific says Wednesday it will acquire 100 percent of Tigerair Philippines, including the 40 percent stake of Singapore’s Tigerair Holdings and stakes of private shareholders.
Cebu and Tigerair Holdings will collaborate on international and domestic routes to and from the Philippines.
Group CEO of Tigerair Koay Peng Yen says the alliance aims “to establish a win-win partnership to forge a more competitive Tigerair.”
Each carrier will brand itself as a partner of the other airline and all routes they operate will be marketed on each airline’s website.
Tigerair flies to about 50 cities in Asia and the South Pacific.