The Civil Aeronautics Board (CAB) said on Friday said that it doesn’t know if negotiations have taken place between the operators of low-cost carriers Cebu Pacific-Tiger Airways Philippines (Tigerair), for a possible buyout.
“I can’t answer that. We do not even know at what stage the negotiations are in,” said lawyer Eldric Peredo, acting board secretary of the CAB, in a text message to The Manila Times.
He added that, “In fact, we don’t even know if negotiations have taken place. Until there is a filing at the CAB, I can’t speculate on that.”
Earlier reports said that the operator of the Cebu Pacific is in talks to buy Tigerair, a Philippine unit of Singapore-based Tiger Airways.
“We always look into opportunities for strategic alliances or acquisitions that will add to the continuing growth and profitability to Cebu Pacific,” B.J. Sebastian, JG Summit Holdings senior vice president and chief strategist, told The Times reporter in a text message.
He added that, “But, we have nothing definite at this time with any party, and we will make the proper disclosure when there is something definite already.”
Meanwhile, Joey Laurente, Tigerair vice president for commercials, said in a text message to The Times that, “We have no information on this [Cebu Pacific-Tigerair possible buyout] at the moment.”
He added that, “But once we do, we [will]let you know.”
Tigerair earlier said that it continues to push boundaries in low-cost travel with its high-performance standards and innovative services that connect Filipinos to the rest of the world.
The airlines also plans to open new routes next year.
“Our focus is South Korea and Japan. We have been working so hard. For Japan, we got already our entitlements from CAB and of course for South Korea, of course everyone is waiting for the FAA [Federal Aviation Administration],” said Olive Ramos, president and chief executive officer of Tigerair.
The airlines has been allowed to fly to Manila-Narita twice a day, 14 times a week; Clark-Narita seven times a week; Cebu-Narita seven times a week; Cebu-Osaka seven times a week; Clark-Osaka seven times a week; Manila-Osaka seven times a week; and Kalibo-Narita and Kalibo-Osaka, seven times a week each.
Tigerair flies domestic via the Ninoy Aquino International Airport Terminal 4 with flights from Manila to Cebu, Davao, Bacolod, Iloilo, Kalibo, Puerto Princesa and Tacloban.
Besides Manila to Phuket, Thailand, its other international flights includes Clark to Hong Kong, Bangkok, Singapore and Kalibo to Singapore.
Tigerair comprises four airlines, namely Tigerair Singapore, Tigerair Australia, Tigerair Philippines and Tigerair Mandala. Collectively, the group’s network extends to over 50 destinations across 13 countries in the Asia Pacific. On the other hand, Cebu Pacific took delivery of its 28th Airbus A320 aircraft on December 22, 2013.