Philippines' Cebu Air to Add Five A320neo Jets Amid Expansion Drive
BY :NEIL JEROME MORALES
JULY 28, 2018
Manila. Philippine low-cost carrier Cebu Air said on Friday (27/07) that it is adding five Airbus SE A320neo jets to its fleet as it continues to expand domestic and international services.
Asian airlines, particularly budget carriers, are among the major drivers for global demand for jets.
Malaysia's AirAsia Group and Vietnam's Vietjet Aviation were among the airlines that signed large deals with manufacturers at Britain's Farnborough Airshow earlier this month.
Cebu Air, which operates Cebu Pacific, said it will acquire the five A320neos through a lease agreement with Avolon Aerospace Leasing, one of the world's largest aircraft lessors. Avolon is owned by Chinese conglomerate HNA Group.
Deliveries of the jets are set for 2019, Cebu Air told the local stock exchange.
"We see expansion opportunities in new markets, as well as pent-up demand in areas where we currently operate," said Alexander Lao, vice president for commercial planning at Cebu Pacific.
Apart from the five leased A320neos, Cebu Pacific expects to receive two A321ceos, 32 Airbus A321neos, and six ATR 72s between 2018 and 2022. To date, the airline has 67 aircraft, mostly A320s.