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Cebu Pacific is in talks with Airbus and Boeing for an order for 150 aircraft worth at least $18 billion, which would be the largest single aircraft order in Philippine aviation history.
The company hopes to complete orders in the first half of this year and plans to spend 50 billion pesos in capital expenditures to purchase new aircraft. The chief financial officer said they may need to borrow from local and foreign banks to cover the pre-delivery costs of the aircraft.
Cebu Pacific is dealing with supply chain issues, with 20 of its planes grounded for engine repairs. Airlines plan to reduce flights to long-haul destinations such as Dubai and increase their fleets to short-haul destinations such as Bangkok and Hong Kong.
(Source: philstar Image source: freepik)
