Budget airline Cebu Air Inc said yesterday it was buying 37 new Airbus planes for US$3.8 billion in the largest single aircraft order ever made by a Philippine airline.
Lance Gokongwei, president of Cebu Pacific, the budget carrier’s official name, said that the new order includes 30 new Airbus A321s and seven A320s. The airline currently operates a fleet of 25 Airbus and eight ATR 72-500 aircraft, the youngest fleet in the Philippines.
Cebu Pacific flew more passengers than the country’s flag carrier, Philippine Airlines, and holds half of the domestic market. Gokongwei said he expected the airline to carry 12 million passengers this year.
The new aircraft are expected to be delivered between 2015 and 2021, Gokongwei said.
Previous orders for 18 Airbus A321 aircraft with a new engine option will be completed starting later this year until 2014, bringing the total Airbus orders to 55.
Cebu Pacific held a successful initial public offering on the Philippine stock market last year, which raised at least US$539 million.
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