Cebu Pacific sells 10 planes, as it prepares to upgrade fleet

Posted at 07/31/12 11:21 AM

MANILA, Philippines - Leading budget carrier Cebu Pacific said it will sell its entire fleet of 10 Airbus A319 aircraft, which it says are its oldest and smallest planes, to US-based Allegiant Travel Company.

In a statement, Cebu Pacific said it will deliver the aircraft to Allegiant over a 15-month period starting March 2013. The value of the deal was not disclosed.

"The Airbus A319s are our oldest and smallest jet aircraft. Whilst they have served us well for the last six years as we have grown our business and developed new markets, the time is right to trade up to bigger, brand new Airbus A320 aircraft. Between now until 2014, CEB will be taking delivery of 15 brand new Airbus A320 and 4 Airbus A330 aircraft. Cebu Pacific is likewise exploring options to advance the delivery of Airbus A320 orders scheduled for delivery between 2015 to 2016," said Lance Gokongwei, president and CEO of Cebu Pacific.

Gokongwei said the new planes will accommodate the growing demand for air travel, as well as ensure greater operational efficiency.

Cebu Pacific is planning to start its long haul services in the third quarter of 2013, with the delivery of up to 8 Airbus A330 aircraft. The Airbus A330 has a range of up to 11 hours, which would allow the airline to serve markets such as Australia, Middle East, parts of Europe and the US.

The Gokongwei-led carrier currently operates 10 Airbus A319, 20 Airbus A320 and 8 ATR-72 500 aircraft. Between 2012 and 2021, Cebu Pacific will take delivery of 22 more Airbus A320 and 30 Airbus A321neo aircraft orders.