Cebu Pacific orders two A320neos with BDO’s backing

MANILA, Philippines — Gokongwei-led Cebu Pacific has tapped BDO Unibank Inc. to finance its purchase of two Airbus A320neo aircraft as it grows its fleet to support growing demand for air travel.

Announcing the deal on Tuesday, BDO said it was a strategic investment that supports the Philippines’ largest airline’s fleet modernization and sustainability goals, as the A320neo is more fuel-efficient than earlier-generation models.

READ: Airbus wins Cebu Pacific 152-aircraft purchase order worth $24B

“We are pleased to support Cebu Pacific in this milestone investment,” said BDO executive vice president Charles Rodriguez. “As a trusted financial partner, BDO continues to provide financing solutions that help businesses scale, strengthen operations and advance their sustainability objectives.”

Fueled by its domestic operations, Cebu Pacific carried 14.5 million passengers in the first quarter, up from 13.9 million a year earlier. Its domestic network carried 10.87 million passengers, while its international network carried 3.63 million passengers.

READ: Cebu Pacific swung to net loss in Q1 on weak peso

The airline holds purchase rights for up to 50 A320neo aircraft under its 2024 order for 152 jets, the largest aircraft purchase in Philippine aviation history. As of May, Cebu Pacific had taken delivery of two of the four A320neo aircraft expected this year. /pai INQ