2 January 2014
The 6th largest LCC carrier in Asia Pacific is buying the Philippine unit of Singapore-based Tiger Airways, an official of the Transport Ministry confirmed today.
Transport Secretary Joseph Emilio Abaya confirmed the buyout offered by Cebu Pacific.
On the negotiating table is the majority share of Southeast Asia Airlines (SEAIR), operator of Tiger Airways Philippines headed by Tomas B. Lopez. The remaining 40% share is owned by Roar Aviation II Pte Ltd. of Singapore, the holding unit of Tiger Airways.
The negotiation sale when completed will be the second dual-brand strategy implemented by Tiger Airways after successfully negotiating similar deals with Virgin Australia.
The consolidation would see both airlines working together in slot assignments and/or reallocation of flight entitlements to maximize their operations at Ninoy Aquino International Airport.
Cebu Pacific operates from Terminal 3 while Tiger Airways operate at Terminal 4.
Tigerair Philippines operates a fleet of 5 Airbus A320 aircraft.
Meanwhile, Singapore Airlines has acquired a further 7.3% interest in Tiger Airways Holdings, parent company of Tiger airways, increasing its stake from 32.7% to 40%. Cebu Pacific's fleet is maintained by Singapore Airlines subsidiary SIA Engineering.
The consolidation would see both airlines working together in slot assignments and/or reallocation of flight entitlements to maximize their operations at Ninoy Aquino International Airport.
Cebu Pacific operates from Terminal 3 while Tiger Airways operate at Terminal 4.
Tigerair Philippines operates a fleet of 5 Airbus A320 aircraft.
Meanwhile, Singapore Airlines has acquired a further 7.3% interest in Tiger Airways Holdings, parent company of Tiger airways, increasing its stake from 32.7% to 40%. Cebu Pacific's fleet is maintained by Singapore Airlines subsidiary SIA Engineering.
