MANILA — The Philippines’ largest carrier, Cebu Pacific, received its 7th new airplane delivery for 2024, the fuel-efficient A321neo, arriving at the Ninoy Aquino International Airport on June 30.
In a statement, Cebu Pacific said Airbus NEOs burn 15% less fuel per flight compared to earlier airplane models, translating to fewer aircraft carbon emissions.
The budget carrier said this move will help them carry more passengers to different parts of the Philippines and beyond.
On July 2, Cebu Pacific said it signed a binding memorandum of understanding with Airbus to buy up to 152 A321neo aircraft for $24 billion, or around P1.4 trillion, the largest aircraft order in Philippine aviation history.
The MOU covers firm orders for up to 102 A321neo planes, plus 50 A320neo units.
“The order is designed to provide Cebu Pacific with maximum flexibility to adapt fleet growth to market conditions, with the ability to switch between the A321neo and A320neo,” said Cebu Pacific CEO Michael Szucs.
“When finalized, the deal will be a significant milestone for the local airline industry and a testament to CEB’s unwavering commitment to support the Philippine growth story,” he added.
Cebu Pacific said it reversed a P14-billion loss in 2022 to make P7.9 billion in net income in 2023 on the back of stronger demand for air travel.
The airline said it flew over 20 million passengers on more than 140,000 flights in 2023, up 41% and 31%, respectively, from 2022 figures.
The company also earlier said its net income doubled in the first quarter of the year as travel demand remained strong.
Net income grew to over P2.2 billion in the first three months of 2024, higher by 108% over the same period last year. Punto News Team/PR
