MANILA, Philippines – The Ayala Group is not limiting talks on selling its boutique airline AirSWIFT to just one company.
ALI Leasing and Hospitality group head Mariana Beatriz Zobel de Ayala said they are also open to discussions with other local airlines. So far, only discussions with the Gokongwei family’s Cebu Pacific have been made public.
“When we started this process, our objective really was, what would be the best customer experience? So we thought it would be best to cast a wide net, that’s how the process started,” Zobel de Ayala said.
What made them decide to sell AirSWIFT? Zobel de Ayala admitted that the group’s “core competencies” do not include the management of airlines.
Budget carrier Cebu Pacific confirmed on July 22 that it is in “exploratory talks” to acquire AirSWIFT from Ayala Land Incorporated (ALI). It came after a report from The Philippine STAR noted that the acquisition could be finalized within the next two months.
“We’ll make the necessary disclosures,” Cebu Pacific President Xander Lao said on the sidelines of a media briefing on August 1 as there is “nothing definitive” on the talks just yet.
This could help further propel the company’s operations as Cebu Pacific also recently announced plans to purchase up to 152 aircraft from Airbus.
If Cebu Pacific does buy AirSWIFT from Ayala Land, the airline will expand its presence in the Palawan tourism market and add another leisure destination to its offerings. The budget courier currently has routes to Coron and San Vicente, Palawan.
AirSWIFT offers direct flights from its Lio Airport in El Nido connecting to Manila, Cebu, Boracay, and Bohol. The boutique airline serves resorts under Ayala Land’s management, specifically its El Nido island resorts in Pangulasian, Lagen, Miniloc, and Apulit.
“We want them to continue or whoever ends up purchasing AirSWIFT would need to fly and service our properties, our resorts,” ALI Chief Finance Officer Augusto Bengzon said.
In the first six months of 2024, AirSWIFT – along with ALI’s property management business and retail electricity supply companies – generated P2.9 billion in revenues for the listed property giant, thanks to airline sales and property management fees. – Rappler.com
