Cebu Pacific inks lease for 2 Airbus planes

MANILA, Philippines - Listed budget airline Cebu Air Inc. (Cebu Pacific)  has acquired two brand new Airbus A330-300 aircraft as part of its massive refleeting program.

Cebu Pacific general manager for long-haul division Alex Reyes said in a statement that the new aircraft is in line with the carrier’s plan to venture into long-haul operations starting this October with flights to Dubai.

“With our A330 fleet strengthened by this lease agreement, we will continue exploring other regions we can serve, such as the Middle East, Australia, parts of Europe and the US. These additional wide-body aircraft will allow us to offer Cebu Pacific’s trademark lowest fares to even more passengers,” Reyes stressed.

Cebu Pacific signed the operating lease agreements with US-based aircraft lessor Intrepid Aviation for the two A330-300 aircraft to be delivered between 2014 and 2015.

By 2015, the low cost carrier would operate six brand-new Airbus A330-300 with the acquisition of two more aircraft powered by Rolls-Royce Trent 772B engines.

The Airbus A330-300 aircraft would allow Cebu Pacific to fly to farther destinations beyond the range of CEB’s Airbus A320 fleet.

Cebu Pacific has an existing fleet of 46 aircraft consisting of 27 Airbus A320s, 10 A319s, eight ATR 72-500, and an A330 aircraft.

The airline is unfazed by recent incidents involving two of its aircraft at the Davao International Airport and the Ninoy Aquino International Airport and is pursuing a massive re-fleeting program to beef up its fleet to reach 62 aircraft by 2017 from about 41 Airbus aircraft as of end-2012.

Cebu Pacific is scheduled to take the delivery of 15 more Airbus A320, 30 Airbus A321neo aircraft orders, and 5 Airbus A330 aircraft on operating lease agreements between 2013 and 2021.

Since its inception in 1996, Cebu Pacific has flown over 75 million passengers. In the first half of the year, it booked an eight percent growth in the number of passengers to 7.5 million from 6.9 million.

Officials attributed the growth in the volume of passengers in the first semester to increased presence in key markets, strategic seat sales offering the lowest possible fares, and continuous network expansion.

The airline expects to serve 15 million passengers this year but is unlikely to achieve its target after two of its aircraft were involved in accidents. One of its aircraft veered off the runway of the Davao International Airport last June 2 resulting to the closure of the international gateway for two days while another aircraft destroyed several edge lights at the NAIA runway last June 14.

It currently offers 22 international destinations, namely Bali, Bangkok, Beijing, Brunei, Busan, Dubai, Guangzhou, Hanoi, Ho Chi Minh, Hong Kong, Incheon (Seoul), Jakarta, Kota Kinabalu, Kuala Lumpur, Macau, Osaka, Phuket, Shanghai, Siem Reap, Singapore, Taipei and Xiamen.

It also operates the most extensive network in the Philippines with 34 domestic destinations and hubs in Manila, Cebu, Clark, Kalibo, Iloilo and Davao.