Cebu Pacific finalises US$4.8 billion A330neo order as it looks to expand internationally

The Philippines’ largest budget airline Cebu Pacific said it has finalised an order for 16 Airbus A330neos worth US$4.8 billion at list prices as it expand capacity with larger, more fuel-efficient jets. Cebu Pacific, said it sees the long-range A330neo jetliner as key to lowering its per-seat costs and maximising the airport slots it already has. The company will use the new planes for both 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 scheduled to arrive between 2021 and 2024. Once fully delivered, the jets will replace the current A330ceos in the airline’s roster. “The A330neo aircraft is integral to our fleet modernisation program,” Cebu Air president and chief executive Lance Gokongwei said in a statement. “With this purchase we aim to reduce our fuel emission and build a more sustainable operation,” he added. Christian Scherer, Airbus chief commercial officer commented: “Cebu Pacific is a pace-setter and surely one of the most respected and well managed airlines in the low-cost sector. This new order is another important endorsement for the value-based proposition that the A330neo brings to highly competitive markets. The increased capacity version of the aircraft developed for Cebu Pacific will help achieve even greater efficiencies for high density regional and long range routes.” 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. The airline flies to 37 domestic routes and 26 international destinations. It claims to have “one of the youngest fleets in the world”, with an average age of five years.