Cebu Pacific Air (5J, Manila Ninoy Aquino International) is to acquire Tigerair Philippines (Angeles City Clark International) following the successful conclusion of talks with the Filipino carrier's parent, Tigerair (Singapore Changi). Under the terms of the deal, Cebu will acquire Tiger Airways' 40% stake in Tigerair Philippines and the remaining 60%, held by the local Filipino partners, for PHP665million (USD15million). Funding will come from internal revenue sources. President and CEO of Cebu Pacific, Mr. Lance Gokongwei said, "This strategic alliance will allow both Cebu Pacific and Tigerair to leverage on our extensive networks spanning from North Asia, ASEAN, Australia, India, all the way to the Middle East. Our customers can expect an even wider range of travel options, and seamless travel connections while enjoying our trademark low fares." To enhance the integration of operations, each carrier will brand itself as a partner of the other airline, with Tigerair Philippines initially continuing to operate under the Tigerair brand. Both Tigerair and Cebu Pacific websites will be used as sales and distribution platforms to market all routes operated by both airlines. The carriers also expect to collaborate on other common destinations in Asia. Subject to regulatory approval, the strategic alliance will also jointly operate common routes to and from Singapore and the Philippines.