Ayala Land Inc. (ALI) is in discussions with multiple airline operators, not just Cebu Pacific, about the planned sale of AirSWIFT Transport Inc. as it shifts gear to solely focus on land and property developments.
In an interview with reporters, Mariana Zobel de Ayala, senior vice president and head of leasing and hospitality at ALI, clarified that the company is also considering relinquishing total control of AirSWIFT.
“What came out in the news is our discussions with Cebu Pacific,” Zobel de Ayala said.
“Our objective is (give) what would be the best customer experience so we thought it would be best to cast a wide net — that’s how we started the process,” she added.
More details soon.
Meanwhile, ALI chief finance officer Augusto Bengzon said in a separate interview that the company expects to disclose something more definitive about the agreement “around this time next month.”
Bengzon clarified that not having direct control over AirSWIFT will not directly affect tourist travel to their estates in different locations.
“For our Lio estate, we still own the airport there and we would want them to continue, or whoever ends up purchasing Airswift, would need to fly to service our properties, our resorts in Palawan. It’s one of the requirements,” he said.
Last week, Gokongwei-led CEB confirmed that it was in talks with ALI but “nothing definitive has been agreed upon.”
“Cebu Pacific is always on the lookout for opportunities to grow and expand its network, including partnership with other parties,” the budget airline said in a stock exchange disclosure.
The Ayala group acquired a 60 percent stake in AirSWIFT Transport Inc. in 2012, formerly known as Island Transvoyager Inc., and took full control the next year by purchasing the remaining 40 percent stake from Asian Conservation Co.
AirSWIFT provides services to popular tourist destinations and manages a small fleet of turboprop planes.