Cebu Pacific To Return 5 Airbuses To Tiger Airways Singapore By Q3, 2014


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Budget airline Cebu Pacific will complete the return of five Airbus aircraft from newly-acquired Tiger Airways to their original owner Tiger Airways Singapore Pte Ltd.

Two of Tiger Airways’ Airbus A319s have already been returned to the Singaporean airline while three more A320s will be returned by the third quarter of 2014, lawyer Jorenz Tañada, Cebu Pacific vice president for corporate affairs, said in a text message.

According to aviation market analysis firm Centre for Asia Pacific Aviation, “Cebu Pacific was unwilling to assume the Tigerair Philippines fleet of five A320 family aircraft as they are powered with different engines from Cebu Pacific’s A320 fleet.”

Cebu Pacific spent $7 million to buy the 40 percent share of Tiger Airways Singapore Pte Ltd and $8 million for the 60 percent owned by Filipino businessmen in Tigerair Philippines, giving the budget airline 100-percent control when the purchase was completed on March 22.

It plans to rename Tiger to Go Air Inc.

Cebu Pacific currently operates more than 2,200 flights a week to 24 international and 33 Philippine destinations in its network while Tigerair Philippines operates 118 flights a week week to 11 domestic and international destinations.

The combined fleet is expected to allow Cebu Pacific to fly to high-growth markets like Australia, Myanmar, and India and allow Tigerair Philippines to fly more passengers to additional cities in Cebu Pacific’s network in the Philippines and North Asia.

Source: JDS, GMA News

 

 

 

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SEAIR Name Change Bid Approved


SEAIR International
From SEAIR to GO AIR

 

THE country’s air-services regulator has approved the petition of the South East Asian Airlines Inc. (Seair), the operator of Tigerair Philippines, to change its corporate name.

Civil Aeronautics Board Executive Director Carmelo L. Arcilla said in a phone interview that along with the approval comes the agency’s endorsement of the said move to the Securities and Exchange Commission (SEC).

“We approved their petition for endorsement to the SEC. We did not see any violation or any legal implication based on our review,” he told the BusinessMirror. Seair is changing its corporate name to Go Air Inc., as part of its agreement with the new parent company, Tigerair Philippines President Olive C. Ramos said.

“We are changing our corporate name [from] Seair to Go Air Inc. because we have to return the company name to its original owner,” she said.

Seair was rebranded as Tigerair Philippines early last year after Singapore-based Tiger Airways Holdings Pte. Ltd.—through subsidiary Roar Aviation II Pte. Ltd.—acquired a 40-percent interest in the local low-cost carrier in 2012.

The entire shareholding in Tigerair Philippines was then bought by dominant budget carrier operator Cebu Air Inc. in a $15-million deal, which involves a strategic alliance between the two airlines.

“The change in corporate name is part of the agreement between Cebu Pacific and Tigerair Singapore when we acquired the airline,” Cebu Pacific Spokesman Jorenz T. Tañada explained.

According to the Corporation Code of the Philippines, once the SEC-approval has been secured the agency must issue an amended certificate of incorporation under the amended name.

“But we will keep the branding,” Ramos said.

Part of the deal involves Tigerair Philippines keeping its own airline operator’s certificate and functioning as a separate carrier. This means that flights of Tigerair Philippines will continue to be operated out of the Ninoy Aquino International Airport (Naia) Terminal 4, while Cebu Pacific flights will be mounted from the Naia Terminal 3.

Cebu Pacific currently operates over 2,200 flights per week with 51 planes servicing the 24 international and 33 Philippines destinations in its network.

Tigerair Philippines operates about 118 flights per week with five planes going to 11 domestic and international destinations.

The original owners of the Seair brand and corporate name formed Seair International Inc. to service missionary and leisure routes in the country.

It is led by former Philippine Airlines President Avelino L. Zapanta.

 

Source: Lorenz S. Marasigan, BusinessMirror

Tigerair Philippines Rebrands to Go Air


tiger air
Soon to be called Go Air

BUDGET CARRIER Southeast Asian Airlines, Inc. (SEAir), which operates under the brand Tigerair Philippines, has applied for regulatory approval for a change in corporate name, a Civil Aeronautics Board (CAB) official told reporters last week.

 

Wyrlou E. Samodio, who heads CAB’s Legal Division, said the company had applied to change its corporate name to Go Air, Inc.

“I would assume that they applied for change of name because there’s a new owner. That’s the supposition there,” he said in Filipino.

Last month, Gokongwei-led Cebu Air, Inc. — operator of budget airline Cebu Pacific Air — completed its $15-million acquisition of Tigerair Philippines operator SEAir from Singapore-based Tiger Airways Holdings, Inc. — through subsidiary Roar Aviation II Pte. Ltd. — and other shareholders.

Menchie V. Osial, Tigerair Philippines media contact, said the company has already secured CAB approval. “Only got approval from CAB; still waiting for SEC (Securities and Exchange Commission) approval — probably next week,” she said in a text message.

Asked on possible rebranding, Ms. Osial replied: “We’re not saying we’ll retain it; it’s still under study and review,” adding that a decision could be reached in August. 

 

Source: AJ M. Santos, http://www.bworldonline.com/