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The airline was founded as Asian Spirit, the first airline in the Philippines to be run as a cooperative. After its acquisition by AMY Holdings of businessman Alfredo Yao in 2008, the airline was rebranded as Zest Airways. In 2013, the airline was rebranded as AirAsia Zest and became an affiliate of Philippines AirAsia operating their brand ...
On 11 March 2013, an agreement was made between AirAsia Philippines to swap shares with Philippine-based airline Zest Airways. [12] Zest Airways received a mix of $16 million cash and a 13% share in AirAsia Philippines, while AirAsia Philippines now owns 85% of Zest Airways, with 49% of its voting rights.
There are two main domestic airline groups doing business as Philippine Airlines and Cebu Pacific, with AirAsia Philippines competing on some international routes. The domestic market is dominated by the Cebu Pacific group which has a 53% market share, followed by the Philippine Airlines group which has 31%, followed by AirAsia, having a 16% share.
Merged into Philippine Airlines: Grand Air: 8L: GDI: 1994: 1999: The airline was forced to close because of a debt problem. Iloilo-Negros Air Express: 1932: 1947: Merged with Philippine Airlines and revived in 2001 to INAEC. Island Transvoyager: ITI: 2002: 2015: Renamed/merged to AirSWIFT: Laoag International Airlines: L7: LPN: Laoag Air: 1995: ...
The airline is 60% owned by the Filipino investors and the remaining 40% is owned by AirAsia. [83] The airline was launched on 16 December 2010 [83] and commenced operations on 28 March 2012. [84] In 2013, it partnered with Zest Airways, a Philippine low-cost airline.
Air Philippines Corporation, operating as PAL Express and formerly branded as Air Philippines and Airphil Express, is a wholly-owned subsidiary airline of Philippine Airlines. [ 3 ] [ 4 ] It is PAL's regional brand, with services from its hubs in Manila , Clark , Cebu , and Davao .