Cebu Pacific, Tiger Air to hold briefing amid takeover talk


Posted at Jan 08 2014 09:30 AM | Updated as of Jan 08 2014 06:31 PM

MANILA, Philippines - Cebu Pacific and Tiger Air Philippines are expected to make an important announcement today (January 8), which will likely create the Philippines' largest budget airline.

A teleconference with the media will be made by Cebu Air CEO Lance Gokongwei and Tiger Air CEO Koay Peng Yen at 11 a.m.

Cebu Air is a unit of JG Summit Holdings, while Tiger Air is the Philippine unit of Singapore's low-cost airline.

There were earlier reports that Cebu Pacific plans to acquire Tiger Air to widen its market share amid stiff competition.

Cebu Air currently corners half of the Philippine air passenger market. - ANC