(FILES) This file photo taken on August 31, 2012 shows applicants queueing up for a job recruitment event for Philippine budget carrier Cebu Pacific, next to scale model of one of the airlines fleet in Manila. Philippine carrier Cebu Pacific is to buy the Filipino unit of Singapore-based budget carrier Tigerair in a deal that will also create a strategic alliance, the airlines announced on January 8, 2014. AFP PHOTO / FILES / TED ALJIBE
MANILA: Singapore’s Tigerair is selling its Philippine business to Cebu Pacific, the archipelago’s biggest airline, leaving just three main players in a market flush with planes but thin on passengers.
Tigerair, which has lost millions of dollars since buying into the budget carrier about 18 months ago, is turning its attention to partnerships to build scale. Cebu Pacific is betting on longer-term growth to propel traveller numbers beyond seats.
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