Seoul, South Korea - Manila, Philippines, 2024-08-14
Soul Group, a holding company of renowned brands such as Soul Airline, PLUSAIR, Bangau Soul, Soul Hotel, and Soul Land, is acquiring a 49% stack in Avelia and MiniAvelia, a boutique airline based in the Philippines. This acquisition marks a significant expansion of Soul Group's aviation portfolio and underscores its commitment to enhancing air travel in the Philippines. This acquisition makes Soul Group the second-largest stakeholder in Avelia, following Avelia's holding company, AveliaGlobe, which retains a 51% stake.
Avelia, founded in 2022 and headquartered in Manila, the Philippines, operates primarily out of Ninoy Aquino International Airport. Known for its unique boutique service, Avelia offers both domestic and international flights to Southeast Asia, East Asia, Australia, and the United States. A subsidiary, miniAvelia, focuses on regional routes in the Philippines. Despite facing challenges in 2023 that led to the downsizing of its operations, Avelia has shown remarkable resilience and remains a key player in the Philippine aviation sector, a testament to its strength and potential.
Soul Group's acquisition comes at a pivotal time for Avelia, which has been seeking to stabilize and grow after the turbulence of the past year. The partnership with Soul Group, a leader in the global travel and hospitality industry, will provide Avelia with the resources and expertise needed to revitalize its operations, expand its fleet, and enhance customer experiences.
Avelia currently operates a fleet of 16 mainline aircraft, along with an additional 4 aircraft under miniAvelia. Despite its recent downsizing, the airline has maintained a strong presence in the Philippine market and has codeshare agreements with Soul Airline, further integrating it into Soul Group's extensive network.
Soul Group's investment in Avelia will enable the airline to explore new markets, re-establish its long-haul services, and innovate its in-flight offerings. Customers can look forward to enhanced connectivity, seamless travel experiences, and the introduction of new frequent-flyer programs tailored to their needs.
Thourgh this acquisition, the group is also increasing operation to the Philippines for Soul Airline, Bangau Soul, and PLUSAIR, and adding a Manila branch of the group's ground handling company, SoulPort. In addition, more codeshare routes between Avelia and the three airlines of Soul Group will be made.
This strategic acquisition is part of Soul Group's broader vision to become a leading global player in the aviation and travel industries. With a diverse portfolio that includes airlines, hotels, amusement parks, and more, Soul Group continues to set new standards for excellence in service and customer satisfaction.
About Soul Group
Soul Group is a global conglomerate with a diverse portfolio of brands across multiple industries, including aviation, hospitality, retail, and entertainment. With a commitment to innovation and excellence, Soul Group strives to deliver exceptional experiences to customers around the world.
About Avelia
Avelia is a boutique airline based in the Philippines, offering domestic and international flights from its hub at Ninoy Aquino International Airport. Established in 2022, Avelia is dedicated to providing a personalized travel experience to its passengers, with a focus on quality service and unique in-flight offerings.
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