MANILA, Philippines (AP) Cebu Pacific a Philippine budget carrier announced that they will buy Tigerair Philippines for $15 million.
Cebu Pacific said that they will acquire 100% of Tigerair Philippines which includes the 40% stake of Singapore's Tigerair Holdings and stakes of private shareholders.
Cebu and Tigerair Holdings will collaborate on international and domestic routes to and from the Philippines.
Group CEO of Tigerair Koay Peng Yen says the alliance aims "to establish a win-win partnership to forge a more competitive Tigerair."
Each carrier will brand itself as a partner of the other airline and all routes they operate will be marketed on each airline's website.
Tigerair flies to about 50 cities in Asia and the South Pacific.
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