Cebu Pacific orders 37 new planes


Budget carrier Cebu Pacific is looking to expand operations by spending roughly $3.8 billion on 37 new Airbus aircrafts.

The company informed the Philippine Stock Exchange that it is planning to purchase seven A320 and 30 A321neo aircrafts, with an option to purchase an additional 10 A321neos down the line.

The order is expected to take place between 2015 and 2021. This is on top of an already existing of 18 Airbus A320 aircrafts that will start being delivered in the second half 2011 through 2014.

When all orders are complete, Ceub Pacific will have a fleet of 55 aircrafts, nearly doubling its current fleet. “The aircraft will reduce our unit cost per seat to a level that cannot be achieved flying A320s,” said Cebu Pacific president and CEO Lance Gokongwei.

Cebu Pacific currently utilizes 33 aircrafts, 25 of which are from the Airbus A320 family, and eight ATR turbo-props.

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