MANILA, Philippines - PTT Philippines, the local unit of Thailand’s largest oil company, has signed another deal with Cebu Air Inc for the supply of the budget airline’s fuel requirements.
PTT will supply 225 million liters worth P5 billion of Jet A-1 fuel to the airlines Cebu Pacific fleet for 2015.
PTT Philippines president and chief executive officer Sukanya Seriyothin and Cebu Air president and CEO Lance Gokongwei signed the agreement recently.
Seriyothin said the 2015 supply contract is 40 percent higher than the 155 million liters contract PTT signed with Cebu Air in 2014.
Furthermore, the new agreement was on top of a separate deal that both parties signed in the fourth quarter of last year for the Diosdado Macapagal International Airport (Clark) consumption at an estimated monthly average of 120,000 liters for its Tigerair brand and 200,000 liters of fuel for Cebu Pacific.
PTT Philippines has been supplying jet fuel to Cebu Air for the past 15 years. Currently, it supplies 70 percent of Cebu Air’s total jet fuel requirements, the airline said.
PTT also provides fuel aviation services to international and domestic airlines both in Diosdado Macapagal Airport in Clark, Pampanga and other airports in the Philippines. Among these are Emirates, UPS and Qatar Airlines.
For its retail business, the company has a network of more than 75 retail stations around Metro Manila, Luzon and Cebu in the Visayas.