CEB fleet revitalized with eight brand-new aircraft deliveries
Manila, November 4, 2019 – Cebu Pacific (PSE: CEB), the leading carrier in the Philippines, signed a Purchase Agreement with Airbus for the order of 16 A330 long-range aircraft. The transaction is valued at USD4.8 Billion.
The 16 A330neo aircraft are scheduled for delivery between 2021 and 2024. The order accelerates the carrier's plan to boost capacity while shifting to more fuel-efficient and eco-friendly aircraft.
By 2024, Cebu Pacific expects to have an all-next generation fleet of Airbus jets.
The Purchase Agreement is part of the Memorandum of Understanding signed by Cebu Pacific with Airbus in June 2019 during the Paris Air Show for an order of 31 next generation aircraft, which also includes 15 A320neo family aircraft.
The 16 A330neo aircraft will be fitted with up to 460 seats, five percent more capacity than the current A330ceo aircraft in the CEB fleet. Cebu Pacific plans to utilize the aircraft on trunk routes within the Philippines and the rest of Asia, as well as on long-haul routes to Australia and the Middle East.
"The A330neo is integral to our fleet modernization program. With this purchase, we aim to reduce our fuel emission and build a more sustainable operation. This will also give us the lowest cost per seat, at the same time enabling CEB to increase seat capacity and maximize valuable airport slots in Manila and other Asian megacities," said Lance Gokongwei, President and CEO of Cebu Pacific.
The A330neos will replace CEB's current A330ceos, which will be retired as the new aircraft is delivered. The A330neo has as extended range capability of up to 15,000 kilometers, while reducing fuel consumption by as much as 25% versus older-generation competing aircraft.
Year-to-date, Cebu Pacific has accepted delivery of eight (8) brand-new aircraft—three Airbus A321neo and four A320neo; as well as an ATR 72-600. The CEB fleet is comprised of a total of 74 aircraft, including 31 Airbus A320, eight (8) A330, seven (7) ATR 72-500, 13 ATR 72-600, and an ATR Cargo Freighter. The ATR aircraft is used by subsidiary Cebgo to service inter-island flights in the Philippines where jet operations are not possible.
The carrier is expecting delivery of two more Airbus A321neo aircraft by end-2019.
CEB boasts of one of the youngest fleets in the world, with an average fleet age of five (5) years.