Airline Cebu Pacific signed a deal to buy more planes from European plane maker Airbus SAS, including next-generation A321 XLRs, the world’s longest-range single-aisle aircraft.
The airline said in a statement on Thursday (Dec. 19) that the share purchase agreement was for an order for 15 A320NEO family planes, which have a list price of $2 billion.
The order included 10 A321XLRs, a long-range variant of the plane.
According to Cebu Pacific, the planes will be delivered between 2021 and 2024.
The carrier will also phase out older aircraft, meaning it will have an all next-generation fleet of Airbus jets in five years.
The deal is part of a memorandum of agreement signed during the 2019 Paris Air Show.
Cebu Pacific also ordered 16 wide-body A330 NEO aircraft last October.
The airline has taken delivery of 10 brand-new aircraft: five A321NEOs, four A320NEOs, and one ATR 72-600.
Its fleet is composed of a total of 75 aircraft. These are seven Airbus A321CEOs, 30 Airbus A320s, eight A330s, seven ATR 72-500s, 12 ATR 72-600s, and an ATR cargo freighter.
The ATR aircraft is used by subsidiary Cebgo to service inter-island flights in the Philippines where jet operations are not possible. Cebu Pacific said its fleet has an average age of five years, one of the youngest in the world.