The operator of budget airline Cebu Pacific sealed an agreement to acquire 16 new Airbus A330-900s—widebody planes that would allow it to carry more passengers amid tight slots in the congested Ninoy Aquino International Airport in Manila.
Cebu Air Inc. said in a stock exchange filing on Monday that it signed the purchase agreement with Airbus SAS for the next-generation planes, also known as the A330neo, which offered better fuel economy and, ultimately, cost savings for the airline and its customers.
The 16 planes, which were part of the memorandum of understanding signed between Cebu Air and Airbus during the June 2019 Paris Air Show, had a list price of $4.8 billion.
They will be delivered between 2021 and 2024. Cebu Pacific is aiming to have an “all-next generation fleet of Airbus jets” with reduced fuel emissions in the next five years.