BUDGET carrier Cebu Pacific (CEB) will be selling six Airbus A319 aircraft to Allegiant Travel Co.’s subsidiary at an undisclosed amount.
As per the forward sale agreement they signed, CEB will deliver them to Las Vegas-based low-cost airline Allegiant Air this year until 2016.
CEB President and CEO Lance Gokongwei said the transaction is in line with their initiative to “continuously improve operational efficiency by replacing and upgrading our fleet with the larger, more fuel-efficient and longer-range A321neo aircraft.”
As the biggest in the A320neo series, the A321neo integrates new engines and large wing tip devices called sharklets that enable lesser fuel burn and lower emissions.
The advances will result to fuel savings of 20 percent, translating into some 5,000 tons less CO2 each aircraft annually; as well as additional payload or range capability.
Also, the aircraft will provide a double-digit reduction in NOx emissions and less engine noise.
The upcoming Airbus A321neo aircraft will be equipped with the Pratt and Whitney PurePower Geared Turbofan engine. WIth a flying radius of more than six hours and up to 240 seats, this will allow CEB to access new markets in the Indian subcontinent and Australia, including Perth, Brisbane and Adelaide.
CEB has one of the most modern fleets in the world, with 54 aircraft composed of 10 Airbus A319, 31 Airbus A320, 5 Airbus A330 and 8 ATR 72-500 aircraft. For this year until 2021, Cebu Pacific will take delivery of seven more brand-new Airbus A320, one Airbus A330, and 30 Airbus A321neo aircraft. The group reported a 25.7-percent growth in revenues to P38.446 billion for the nine months ended September 30, 2014 from P30.582 billion in the same period in 2013.
Net income, likewise, increased by 213.1 percent to P2.079 billion from P664.081 million during the periods in review.
Roderick L. Abad