PAL orders up to 20 Boeing 787-10s to expand fleet
MANILA, Philippines – Philippine Airlines (PAL) has ordered 15 Boeing 787-10 Dreamliner aircraft, with an option to purchase five more, in a deal that marks the flag carrier’s first Boeing aircraft purchase since 2007.
As the largest variant of the 787 family, the Boeing 787-10 will support PAL’s medium- and long-haul operations while complementing its existing fleet of 10 Boeing 777-300ER aircraft.
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PAL, which announced the deal on Monday at the Farnborough International Airshow in the United Kingdom, expects deliveries between 2031 and 2034.
“This investment manifests our confidence in the future of Philippine Airlines and the continued growth of air travel,” said Lucio Tan III, president and COO of PAL Holdings Inc. “The Boeing 787-10 will strengthen our medium- and long-haul fleet, allowing us to provide an even better travel experience for our customers while improving operational efficiency and supporting our long-term sustainability goals,” he added.
Fuel efficient planes
By acquiring the Boeing 787-10, PAL is adding an aircraft that consumes about 25 percent less fuel than the airplanes it typically replaces. The aircraft can seat between 300 and 375 passengers and fly up to 13,890 kilometers.
Stephanie Pope, president and CEO of Boeing Commercial Airplanes, said the order further strengthens the 80-year-old partnership between the two companies.
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“Philippine Airlines’ selection of the 787 Dreamliner marks an important step forward in our partnership,” Pope said. “We’re grateful for PAL’s trust in Boeing, and our team looks forward to delivering advanced-technology airplanes that deepen connections across the Philippines, Asia and beyond.”
According to Boeing, the order could also support jobs in the Philippines, where several of its suppliers—including Moog, Collins Aerospace and Jamco—operate manufacturing facilities that produce components for the 787 program.
In the first quarter, PAL reported a 2.6-percent increase in net income to $78.55 million, supported by sustained travel demand and strong cargo yields.
READ: PAL maintained first-quarter profit despite Mideast woes
Earlier this month, the flag carrier raised $300 million through its inaugural fixed-rate international bond offering, giving the airline a new source of funding for fleet renewal and other capital expenditures.
