Cebu Pacific, the largest Filipino budget carrier, is entering into an alliance with Singapore-based Tigerair, the two airlines said Wednesday, Jan. 8.
The alliance calls for Cebu to acquire Tigerair Philippines, an acquisition that would give the Filipino carrier access to new slots at Manila's Ninoy Aquino International Airport (NAIA). Under the agreement, Cebu will acquire 100 percent ownership of Tigerair Philippines, and 40 percent of Tigerair.
"This strategic alliance will allow both Cebu Pacific and Tigerair to leverage on our extensive networks spanning from North Asia, ASEAN, Australia, India, all the way to the Middle East," said Lance Gokongwei, president and CEO of Cebu Pacific.
Koay Peng Yen, CEO of Tigerair, said the partnership will allow the two merged carriers to create the largest budget airline network flying between Asia and the Philippines.