Budget airline Cebu Pacific is gearing on a refleeting program as it prepares to recover from the impacts of the Covid-19 pandemic.
Cebu Pacific plans to upgrade its entire Airbus fleet by 2027, purchasing newer and more efficient planes in the process.
The expansion plans are set to continue despite the setbacks brought about by the Covid-19 pandemic.
In its annual report, Cebu Air Inc., the registered name of the budget carrier, announced that 59 new planes will be delivered to the Philippines from 2021 to 2027.
The new aircraft were supposed to arrive by 2026 but were rescheduled due to the Covid-19 pandemic.
The delivery will include 40 Airbus A320neo family aircraft, 16 A330neos, and 3 ATR 72-600s.
The Airbus neo models include a new engine variant that burns less fuel and have more seats.
To date, Cebu Pacific received a new Airbus A321neo on April 2, and seven more planes are expected to arrive from Airbus and ATR in the coming months.
The Gokongwei-backed company is able to push through with their refleeting efforts thanks to their fundraising deals that garnered P28.5 billion from equity and debt sources.
Currently, Cebu Pacific has 74 planes, including 25 Airbus A320s, 13 ATR 72-600 aircrafts, eight A321neos, seven Airbus A321ceos, seven Airbus A330s, six ATR 72-500s, five Airbus A320neos. It also has two ATR freighters and one A330 freighter.
These aircraft are slated to be retired during the next few years, the company said.
The refleeting efforts have begun simultaneously as the company continues to settle billions in refunded ticket sales following the Covid-19 pandemic.
(MO)
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