By Komfie Manalo
Budget airline Cebu Pacific (CEB) is in exploratory talks with Ayala Land Inc. (ALI) to acquire its boutique airline, AirSSWIFT.
ALI confirmed the negotiations in its disclosure with the Philippine Stock Exchange and added that it is "exploring opportunities with CEB to improve our offerings."
"Ayala Land is committed to continuously enhancing its products and services for its customers. Our current major renovations of hotels and resorts are just one facet of our broader vision to redefine the customer experience," the company said.
"Should this discussion result in an agreement, then the proper public disclosures will be made," Ayala said.
"In the meantime, we are focused on providing our customers at AirSWIFT, El Nido Resorts, and Lio Hotels the best service experience," it added.
AirSWIFT operates a fleet of aircraft and flies to Boracay, El Nido, Cebu, Bohol, and other local destinations.
Earlier, ALI said it would invest P100 billion this year, the majority of which will be in premium developments, as its core properties or middle-income segment is not growing as much as expected.
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