Cebu Pacific orders 31 Airbus jets in $6.8-billion deal as it retools fleet

ABS-CBN News

Posted at Jun 19 2019 09:29 AM

MANILA - Cebu Pacific said Wednesday it would order 31 new jets under a $6.8-billion deal with Airbus as it refurbishes its fleet with fuel-efficient and environment-friendly aircraft.

The agreement, made during the 2019 Paris Air Show, includes 16 A330neo and 15 A320neo, which are scheduled for delivery between 2021 and 2026, the country's largest carrier said in a disclosure to the stock exchange. 

The A330neo has 5.5 percent more capacity and with as much as 12 percent less fuel burn per trip compared to the A330ceo, the airline said.

“Our strategy is to replace our fleet with bigger and more fuel-efficient aircraft to fly more passengers utilizing our existing slots while reducing our environmental footprint per passenger. We will be operating an all Airbus NEO fleet by end-2024 and retiring our older generation jets,” Cebu Pacific president and CEO Lance Gokongwei said. 

The A320neo, meanwhile, will result in 7 percent reduction in cost per seat and as much as 15 percent reduction in fuel burn, Cebu Pacific said. 

Cebu Pacific currently has 72 aircraft in its fleet composed of 2 Airbus A321neo, 7 A321ceo, 1 A320neo, 33 A320ceo, 8 A330ceo, 8 ATR 72-500s and 13 ATR 72-600s.