Cebu Pacific receives first A330neo

(PHOTO: Airbus)

CFMCebu Pacific has taken delivery of its first A330neo as it begins its widebody fleet modernisation programme. The aircraft is configured with 459 seats in single-class layout and will be operated by the airline on trunk routes within the Philippines and the rest of Asia, as well as on longer range services to Australia and the Middle East. The A330neo offers versatility for a wide range of routes from shorter regional services to medium and long-haul operations.

(PHOTO: Airbus)

Altogether Cebu Pacific has ordered 16 A330neo, and also has 16 A320neo and 22 A321neo outstanding to be delivered. The low-cost carrier currently operates 50 Airbus aircraft, comprising 43 A320 Family and 7 A330ceo. The aircraft is powered by Rolls-Royce’s latest-generation Trent 7000 engines and features a new composite wing with increased span for enhanced aerodynamics.

Cebu Pacific recently said it saw its attributable net loss widen to P8.2 billion (US$163.73 million) in the third quarter from a loss of P5.54 billion in the same period a year ago, mainly due to the impact of the global health crisis on its operations. In its quarterly report released on Tuesday (9 November), the company said its total revenues for the period climbed 62 percent to P3.24 billion last quarter from P2 billion in the same period in 2020. Passenger revenue rose to P1.31 billion in the third quarter from P379.19 million in the same period last year.

Cargo revenue for the quarter went up 9 percent to P1.45 billion from P1.33 billion previously, while ancillary revenue increased 63.4 percent to P484.10 million from P296.28 million in the comparable year-ago period. Expenses reached P9.4 billion, up 7.6 percent from P8.74 billion last year, resulting in an operating loss of P6.15 billion from P6.74 billion previously. Attributable net loss for the first nine months widened to P21.99 billion from a loss of P14.69 billion in the same period last year.

The company’s January-to-September total revenues dropped 52.7 percent to P9.15 billion from P19.34 billion in the same period in 2020. Operating loss reached P18.84. billion from P13.72 billion last year. As of Sept. 30, Cebu Air said its consolidated assets decreased to P128.40 billion from P128.46 billion as of Dec. 31 last year, mainly due to asset depreciation recognised during the period, which was offset by an increase in cash from the receipt of proceeds from the issuance of convertible preferred shares and convertible bonds.

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