Budget carrier Cebu Pacific has signed a lease for four Airbus A330 long-range aircraft, set to arrive starting late next year, as it prepares to extend its network to routes in Europe, United States and the Middle East.
In a statement on Wednesday, Cebu Pacific said it had signed operating lease agreements for the new Airbus A330-300 aircraft with CIT Aerospace, a unit of the New York Stock Exchange-listed CIT Group Inc.
The new planes will be delivered from 2013 to 2014, and will be powered by RollsRoyce Trent 772B engines. The new planes will allow Cebu Pacific to mount flights outside the current range of its fleet of Airbus A320 jets.
“These Airbus A330-300 aircraft will allow us to offer our trademark low fares to an even wider market. With the introduction of wide-body aircraft into our fleet, we could offer non-stop services into Australia, India, the Middle East and parts of Europe and the United States,” said Alex Reyes, general manager of Cebu Pacific’s long-haul group.
The company’s optimism comes despite the dark clouds that have been cast over the low-cost, long-haul air travel market.
Earlier this year, Malaysia’s Air Asia X, one of the pioneers of low-cost, long-haul travel, announced the suspension of flights to Paris, France and London in the UK, among other key routes, due to escalating costs.—Paolo G. Montecillo