To anticipate the travel and tourism post-pandemic recovery, Philippine’s budget carrier Cebu Pacific is planning to expand and renew its fleet for the next few years.
“Over the next five years, we will have 48 deliveries and 35 exits, ending 2026 with 87 aircraft,” said Lance Gokongwei, Cebu Pacific CEO at the company’s shareholder meeting on Wednesday (11 May). The company is allocating PHP32.8 billion (USD625.8 million) for this expansion and fleet renewal program.
As countries started to relax Covid-19 restrictions, Cebu Pacific has seen a substantial passengers increase in the first quarter of 2022 compared to the same period in 2021. Until April 2022, the airline carried over two million passengers that have been noted as a 272% increase from last year.
However, according to the company’s official company statement, while it sees a better business outlook driven by domestic recovery and re-openings of international destinations, it remains “[…] cautious of the risks presented by increasing jet fuel prices and interest rates and depreciation of the Philippine pesos versus the U.S. dollar,”.
The company’s expansion and fleet renewal plan will see Cebu Pacific replacing some of its 74-strong fleet of aircraft with more fuel-efficient Airbus A330neo.
Founded in 1988, Cebu Pacific is Asia’s oldest low-cost airline. From its main hubs in Manila and Cebu, the airline is serving both domestic and international routes and has become the Philippines’ largest airline based on the number of passengers flown in 2010.
Singapore Airlines (SIA) has announced plans to increase flight frequencies and passenger capacity across its network for the 2025 Northern…
Etihad Cargo and Teleport, the logistics arm of AirAsia, have entered into a partnership aimed at increasing cargo capacity and…
SalamAir, Oman’s low-cost airline, has announced the launch of its latest promotion, the "Low Fare Mega Sale," offering discounted fares…
On 13 August 2024, the Düsseldorf-based Rheinmetall Group signed an agreement to acquire all equity interests in Loc Performance Products,…
MRO services provider AAR hosted an internship graduation ceremony on Aug. 8 for the 10 high school students who spent…
The Polish Government has finalised a Foreign Military Sales (FMS) Letter of Offer and Acceptance (LOA) to acquire 96 Boeing…
Korean Air and U.S. defence contractor L3Harris Technologies recently hosted an 'L3 Industry Day' at the Air Force Hotel in…
Worldwide Flight Services (WFS), part of the SATS Group, has secured a five-year licence to manage ramp handling operations at…
Elbe Flugzeugwerke GmbH (EFW), a joint venture between ST Engineering and Airbus, has been granted Continuing Airworthiness Management Organisation (CAMO)…
Walter Cho, Chairman and CEO of Korean Air and Hanjin Group, has been honoured with the top management award by…
airBaltic has placed an order for an additional 10 Airbus A220-300 aircraft, bringing its total order to 90. This marks…
The Israel Ministry of Defense, in collaboration with the Tehkumah Authority, the IDF, and the Hof Ashkelon Regional Council, has…
Virgin Australia has finalised an agreement with Embraer for the purchase of eight E190-E2 small narrowbody aircraft, as part of…
The French Navy's CAMCOPTER S-100 Unmanned Air System (UAS) Squadron was deployed to ensure the security of the waters surrounding…
Air Transport Services Group (ATSG) subsidiary Cargo Aircraft Management (CAM) has leased a Boeing 767-300 converted freighter to New York-based…
Advanced air mobility (AAM) company Volocopter has conducted the world's first electric vertical take-off and landing (eVTOL) flight test within…
Lockheed Martin delivered the first of five C-130J Super Hercules tactical airlifters to the New Zealand Ministry of Defence and…
In June, U.S. Army Special Operations Aviation Command (USASOAC) awarded Boeing a $115 million contract to produce two more MH-47G…
Scoot, the low-cost subsidiary of Singapore Airlines (SIA),will receive its third and fourth Embraer E190-E2 aircraft in Singapore in September…
Ramiro Alfonsín will assume the role of Chief Commercial Officer, LATAM Airlines Group, from Nov. 7. He was earlier Vice…
U.S. and Netherlandshave formalized a Letter of Offer and Acceptance (LoA) agreement to purchase Lockheed Martin’s Joint Air-to-Surface Standoff Missile…
Air India Express has become the first Indian airline to launch a Virtual Interline platform, offering flyers a wider range…
Vard, Norwegian subsidiary of the Fincantieri Group and among the leading companies in the construction of specialized vessels, has signed…
Boeing has delivered the first MH-139A Grey Wolf production aircraft to the U.S. Air Force. The aircraft, part of a…
Embraer has signed an US$ 1 billion syndicated credit agreement for five years. The deal is an extension of a…
Hong Kong's Cathay Group has placed a firm order with Airbus for 30 A330-900 widebody aircraft. The newly-ordered aircraft will…
Türkiye's leading defence company Aselsan has made a significant leap in Defense News' annual “Top 100 Defence Companies List," climbing…
United Aircraft, Shenzhen-based manufacturer of uncrewed aircraft systems (UAS), is seeking international partners for its tilt-rotor UAV (R6000) that will…
Boeing has handed over the first MH-139A Grey Wolf production helicopter to the U.S. Air Force. This aircraft is part…
Airbus has been selected by the French Space Agency (CNES) to design and construct two next-generation microwave radiometers for the…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.