Cebu Pacific (CEB) and Tigerair today finalised an agreement to enter into a strategic alliance, the plans for which were announced late last month (see previous report here). The deal will see both carriers jointly operate common routes between Singapore and the Philippines, as well as expanding network coverage and connectivity.
In addition, Tigerair stated that it would relinquish its 40 per cent stake in Tigerair Philippines to Cebu Pacific. According to CEB, it has now signed the share purchase agreement to acquire 100 per cent of Tigerair Philippines, and flights on its new acquisition will be available on the Cebu Pacific website starting mid March.
Cebu Pacific currently operates 2,200 flights per week with 49 aircraft to 24 international and 33 domestic destinations. Meanwhile, Tigerair operates 118 flights per week with five aircraft on 11 different routes, from its bases in Manila and Clark.