Philippine carrier Cebu Pacific (PSE: CEB) has confirmed the acquisition of five Airbus A320neo (new engine option) aircraft to ramp up its fleet, the company said.
Deliveries of the aircraft will commence in the first half of 2019 and will be completed within the same year.
The five additional A320neo aircraft is on top of its order of two more A321ceo, 32 Airbus A321neo, and six ATR 72-600 aircraft, which are scheduled for delivery between 2018 and 2022. The additional aircraft will be used to support the carrier´s expansion plans.
The single-aisle A320neo aircraft for Cebu Pacific will be equipped with the Pratt & Whitney PurePower PW1100G-JM geared turbofan and has a maximum range of 6,300 kilometers but burns up to 20% less fuel.
Cebu Pacific will acquire the five aircraft via an Operating Lease Agreement signed with Avolon Aerospace Leasing Limited, one of the largest aircraft leasing companies in the world. This is second lease agreement between Cebu Pacific and the Dublin-based Avolon following the placement of three Airbus A330-300 aircraft with the carrier.
Cebu Pacific has one of the youngest fleets in the world, with a total of 67 aircraft with an average age of 4.8 years. The CEB fleet is comprised of 36 Airbus A320, five Airbus A321CEO (Current Engine Option), and eight Airbus A330; as well as a fleet of eight ATR 72-500 and ten ATR 72-600 aircraft, operated by subsidiary Cebgo.