Cebu Pacific has signed a purchase agreement with European aircraft maker Airbus SAS for the order of 16 A330neo aircraft valued at US$4.8 billion.
Each new A330neo will have 460 seats, 5% more than the seats of the A330ceo that will be replaced. The new aircraft will also consume 25% less fuel compared to older generation Airbus jets, Cebu Pacific said.
The 16 A330neo will be delivered between 2021 and 2024 and deployed on Philippine and other Asian routes, as well as on long-haul flights to the Middle East and Australia.
“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,” Cebu Pacific president and chief executive officer Lance Gokongwei said.
He added that the new jets will give Cebu Pacific the lowest cost per seat while enabling the airline to “increase seat capacity and maximize valuable airport slots in Manila and other Asian mega cities.”
The purchase agreement is part of a memorandum of understanding between Cebu Pacific and Airbus that was signed last June for an order of 31 aircraft, broken down into 16 A330neos, 10 A321XLRs and five A320neos. The order is worth about $6.8 billion in total at list prices.
Year-to-date, Cebu Pacific said it has accepted delivery of eight brand-new aircraft, bringing its total fleet to 74. Two more Airbus A321neos will be delivered before the end of the year.