Report by : Gan Yung Chyan
/ KUCINTA SETIA
Distributed to All Press & Travel Professionals
Cebu Pacific Air is buying the Philippine unit of Singapore-based Tigerair.
Transport Secretary Joseph Emilio Abaya confirmed the buyout offered by Cebu Pacific on 2 January 2014 to the Philippine aviation blog The Exciting Centennial of Philippine Aviation, on-line partner of Sayacinta - Airpost.
On the negotiating table is the majority share of Southeast Asia Airlines (SEAIR), operator of Tiger air Philippines headed by Tomas B. Lopez. The remaining 40 per cent share is owned by Roar Aviation II Pte Ltd. of Singapore, the holding unit of Tigerair.
The negotiation sale when completed will be the second dual-brand strategy implemented by Tigerair after successfully negotiating similar deals with Virgin Australia.
The consolidation would see both Cebu Pacific Air and Tigerair Philippines working together in slot assignments and/or reallocation of flight entitlements to maximize their operations at Ninoy Aquino International Airport, Manila.
Cebu Pacific operates from Terminal 3 while Tigerair Philippines operates at Terminal 4.
Tigerair Philippines operates a fleet of 5 Airbus A320 aircraft. It plans to launch flights from Manila and Cebu to Tokyo Narita, Osaka and Seoul, destinations which are currently served by Cebu Pacific Air, on behalf of Tigerair in early 2014.
Meanwhile, Singapore Airlines has acquired a further 7.3% interest in Tiger Airways Holdings, parent company of Tigerair, 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 Cebu Pacific Air and Tigerair Philippines working together in slot assignments and/or reallocation of flight entitlements to maximize their operations at Ninoy Aquino International Airport, Manila.
Cebu Pacific operates from Terminal 3 while Tigerair Philippines operates at Terminal 4.
Tigerair Philippines operates a fleet of 5 Airbus A320 aircraft. It plans to launch flights from Manila and Cebu to Tokyo Narita, Osaka and Seoul, destinations which are currently served by Cebu Pacific Air, on behalf of Tigerair in early 2014.
Meanwhile, Singapore Airlines has acquired a further 7.3% interest in Tiger Airways Holdings, parent company of Tigerair, increasing its stake from 32.7% to 40%. Cebu Pacific's fleet is maintained by Singapore Airlines subsidiary SIA Engineering.
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