Tigerair and Cebu Pacific announced (20-Mar-2014) the completion of their previously announced transaction, with Tigerair divesting its 40% stake in Tigerair Philippines to Cebu Pacific as part of the strategic alliance between the two airlines. The alliance will enable both parties to leverage their strengths and collaborate in international and domestic air routes from the Philippines, creating the largest budget airline network between the Philippines and Southeast Asia. The long term partnership will enable Tigerair to tap on Cebu Pacific’s extensive network in the Philippines and North Asia, while Cebu Pacific will be able to extend their network to include Australia and India. Using interline arrangements, both parties will be able to increase flight frequencies and jointly sell and market their routes. Details include: Upon completion of the transaction, Tigerair Philippines will continue to operate under the Tigerair brand for the time being; Both Cebu Pacific and Tigerair websites will also be used as sales and distribution platform to market all routes operated by them. Both parties are actively working together to upgrade their websites to facilitate the cross-booking of flights; Subject to approval by the Competition Commission of Singapore, the interline partners will also be able to jointly operate common routes between Singapore and the Philippines, thus providing even more travel options for customers. Both parties are currently co-operating on the application to the commission to further strengthen the partnership; Tigerair Philippines has returned two A319s to Tigerair, while Cebu Pacific has entered into a short-term aircraft lease agreement with Tigerair to allow Tigerair Philippines to continue to use three A320 aircraft
Posted on: Thu, 20 Mar 2014 07:28:44 +0000
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