The Philippines' leading airline, Cebu Pacific (PSE: CEB), receives delivery of a brand-new Airbus A321CEO (Current Engine Option) aircraft. The latest delivery completes the carrier's order with Airbus for an additional seven A321CEO aircraft, which were delivered beginning in March 2018.
Based on Airbus list price, the seven A321CEO aircraft have a total value of US$812 million, and is on top of an existing order for 32 Airbus A321NEO (New Engine Option) aircraft. Cebu Pacific expects delivery of the first of its A321NEO aircraft from Airbus by the first quarter of 2019.
With a capacity of 230 seats, the A321CEOs of Cebu Pacific boasts of ergonomically designed seats by world-renowned manufacturer Recaro that allow for more distance and legroom between rows. Each seat is also equipped with a USB port which allows passengers to charge their mobile devices inflight.
To support expansion plans, Cebu Pacific has also ordered five Airbus A320NEO (new engine option) aircraft through an Operating Lease Agreement signed with Avolon Aerospace Leasing Limited, one of the largest aircraft leasing companies in the world. Deliveries of these aircraft will commence in the first half of 2019 and will be completed within the same year. The carrier is also expecting delivery of four (4) ATR 72-600 aircraft from 2019 to 2022 for use in inter-island domestic routes where jet operations are not possible.
To date, the Cebu Pacific fleet is comprised of 36 Airbus A320, seven (7) Airbus A321CEO, eight (8) Airbus A330, eight (8) ATR 72-500, and 12 ATR 72-600 aircraft. The ATR aircraft are used by its subsidiary Cebgo. Between 2019 and 2022, CEB expects delivery of five (5) Airbus A320NEO (New Engine Option) and 32 Airbus A321NEO aircraft; as well as four (4) ATR 72-600 aircraft. CEB boasts of one of the youngest fleets in the world, with an average fleet age of about 5.1 years.