Cebu Integrates Tigerair

Low-cost carrier Cebu Pacific is to buy local rival Tigerair Philippines for $15 million in a deal set to close in March. Tigerair Philippines is a subsidiary of Singapore-based Tiger Airways and operates five aircraft, while Cebu has 48 aircraft. Prior to the acquisition, which is to be funded from Cebu’s balance sheet, Cebu and Tigerair entered into a strategic partnership agreement covering cooperation on routes, marketing and pricing. “We intend to keep the Tiger AOC and continue to serve the commitment of the routes and schedules that TigerAir Philippines currently flies,” commented Cebu CEO Lance Gokongwei.

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