Low-cost carrier Cebu Pacific continues to dominate the Philippine air travel industry and overtakes the country’s flag carrier, Philippine Airlines, with its purchase order of about 152 new aircrafts from Airbus amounting to $24-billion (P1.4 trillion), so far the biggest deal in Philippine aviation history.
The low-cost airlines company, owned and controlled by tycoon Lance Gokongwei and his family’s conglomerate JG Summit Holdings, holds a fleet of about 85 Airbus and some smaller ATR turboprop aircraft, and an existing order book of more than 30 planes from the European manufacturer. It plans to expand operations to maintain domination in the domestic aviation market and keep its healthy share position against the resurgent Philippine Airlines.
Airbus thanks Cebu Pacific for its ongoing confidence in Airbus and its products, and is looking forward to finalising the contract. According to Cebu Pacific’s CEO Mike Szucs, when finalised, the deal will be a significant milestone for the local airline industry.
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