CebuPac finalizes $2 billion purchase deal with Airbus !-- -- Richmond Mercurio (The Philippine Star) - December 20, 2019 - 12:00am MANILA, Philippines Cebu Pacific has finalized its order for 15 new Airbus A320neo aircraft as part of its plan to introduce more fuel-efficient and eco-friendly planes to replace its existing fleet. Cebu Air Inc.

, the listed operator of the country's largest budget carrier, said yesterday in a stock exchange filing that it signed a purchase agreement with Airbus SAS for the order of 15 A320neo family aircraft, which include up to 10 A321XLR. The order for the new aircraft, which is valued at $2 billion based on list prices, keeps Airbus on track to reach a year-end sales milestone.

Airbus chief commercial officer Christian Scherer on Wednesday said Airbus had won 940 gross orders so far this year and said the plane maker expected to reach a milestone by the end of the year, in a clear sign it would cross the 1,000 mark. The purchase agreement is part of the Memorandum of Understanding signed by Cebu Pacific with Airbus last June during the Paris Air Show for an order of 31 next generation aircraft, which also included 16 A330neo aircraft.

The deal includes up to 10 of the long-range A321XLR planes launched this year that have proven popular with airlines. The purchase agreement for the order of the 16 A330 long-range aircraft, valued at $4.8 billion, was signed last month.

Cebu Pacific earlier said the new aircraft ordered during the Paris Air Show are scheduled for delivery between 2021 and 2026. By 2024, the budget carrier expects to have an all-next generation fleet of Airbus jets. Cebu Pacific boasts of one of the youngest fleets in the world, with an average fleet age of five years.

It has accepted delivery of eight brand-new aircraft so far this year consisting of three Airbus A321neo and four A320neo, as well as an ATR 72-600. Cebu Pacific's fleet is comprised of a total of 74 aircraft, including 31 Airbus A320, eight A330, seven 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.

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