The Philippines’ largest budget airline, Cebu Air Inc, has ordered 16 Airbus SE planes worth US$4.8 billion, the carrier said yesterday, as it aims to expand carrying capacity with larger, more fuel-efficient jets.
Cebu Air, commonly referred to as Cebu Pacific, said that it sees the long-range A330neo jetliner as key to lowering its per-seat costs and maximizing the airport slots it already has.
The company woud use the new planes for domestic routes and Asian destinations, as well as long-haul flights to Australia and the Middle East, where millions of Filipinos work overseas.
The new aircraft are to arrive between 2021 and 2024. Once fully delivered, the jets will replace the A330ceos in the airline’s roster.
“The A330neo aircraft is integral to our fleet modernization program,” Cebu Air president and chief executive officer Lance Gokongwei said in a statement.
“With this purchase we aim to reduce our fuel emission and build a more sustainable operation,” he added.
The Philippine carrier has a fleet of 74 planes, most of which are from Airbus, and has received eight new aircraft this year, the majority also Airbus planes.
Airbus has taken orders for more than 350 planes in Asia since August, streaks ahead of rival Boeing Co as the US planemaker struggles to revive its grounded 737 MAX.
A big win for Airbus came last month, when Indian budget carrier IndiGo ordered 300 narrow-body aircraft in a deal worth more than US$33 billion at list prices.
Boeing received orders or commitments for only 16 jets in the past three months, according to the Chicago-based company’s Web site.
Airbus orders are for A320neo and wide-body A330neo aircraft, while Boeing’s are for twin-aisle 787s and 777 freighters.
Boeing is in the throes of crisis following two deadly crashes of its 737 MAX, including a Lion Air flight in October last year that plunged into the Java Sea, killing all 189 people on board.
Boeing has been upgrading software on the 737 MAX, but it remains unclear when it will be allowed to fly again.
Additional reporting by Bloomberg
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
’WHITE BOX’: The open platform would give local firms access to Cisco’s cloud-based mobile network to develop 5G telecom equipment and tap into the global market The Ministry of Economic Affairs (MOEA) yesterday introduced a new 5G “open lab” in collaboration with US-based information technology and networking giant Cisco Systems Inc to address the rapidly growing “white box” 5G networking equipment market. The open lab will be a platform where Taiwanese manufacturers can access Cisco’s cloud-based mobile network to develop their own 5G telecom equipment, such as small-cell base stations, network switches, modems and Internet of things (IoT) devices, a ministry statement said. The open platform would allow Taiwanese manufacturers to tap into the lucrative 5G telecom equipment market, which was previously monopolized by Nokia Oyj, Ericsson AB
Nintendo Co is raising its target for Switch production to about 25 million units this fiscal year, people familiar with the matter said, as the ongoing COVID-19 pandemic keeps lifting demand and component shortages ease. The Kyoto, Japan-based company, which in April hiked orders to 22 million units by March next year, is asking partners to tack on another few million units, said the people, who did not want to be identified discussing internal goals. Assembly partners plan to work at maximum capacity through December. The new production target suggests that Nintendo is likely to outperform its Switch sales forecast of 19 million
NERVOUS MARKET: With the infection sources still unknown for three COVID-19 cases that had departed Taiwan, investors have become uneasy, an analyst said Local shares yesterday came under heavy downward pressure, falling more than 1 percent as renewed fears over a possible increase in domestic COVID-19 infections hit market sentiment after the nation last week reported a case related to a Belgian national. Selling focused on the bellwether electronics sector, led by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which pushed down the broader market as investors ignored gains posted by tech heavyweights on the US market at the end of last week, dealers said. The TAIEX closed down 151.77 points, or 1.2 percent, at 12,513.03, on turnover of NT$231.43 billion (US$7.84 billion). Foreign