22-Mar-2011 3:31 PM

Cebu Pacific announces five-year fleet plan

Cebu Pacific plans to expand its fleet over the course of the next five years from 29 aircraft to 47 aircraft. The carrier signed a purchase agreement in Feb-2007 for an orders of 22 A320 aircraft, scheduled for delivery from Oct-2010.

Cebu Pacific: "We have entered into operating lease agreements for two Airbus A320 aircraft and have obtained options from Airbus for the purchase of seven Airbus  A320 aircraft that are expected to be ready for delivery between 2015 and 2017, which options will expire in  December 2012. To the extent we require additional aircraft, we would seek to acquire such aircraft through  additional operating leases or purchase agreement from the manufacturer." Company statement, 21-Mar-2011.

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