CEBU Pacific on Monday said that it had signed a share purchase agreement with an Ayala Group unit to fully acquire boutique airline AirSWIFT for P1.75 billion. The deal with ALI Capital Corp., analysts said, is an indication that the airline is looking to expand beyond being known as a low-cost carrier. China... read full story
"fits Cebu Pacific's expansion plans as the acquisition will enable the company to gain a bigger share of the promising leisure travel market."