Cebu Air Inc. on Tuesday said it is pushing through with its re-fleeting program amid the global pandemic.
The Gokongwei-led airline said it took delivery of a brand-new Airbus A321NEO (New Engine Option) aircraft on April 02, 2021.
This latest delivery is the eighth out of Cebu Pacific’s 47 narrow-body orders from Airbus, in line with the carrier’s fleet expansion plans.
On top of this A321NEO, Cebu Pacific s expecting delivery of seven more aircraft this 2021, a mix of Airbus and ATR fleet.
The Airbus A321NEO delivers 20 percent fuel cost savings while offering significant environmental benefits with nearly 50 percent reduction in carbon footprint compared to previous generation aircraft.
“Pre-pandemic, we have already started embarking on our long-term vision and fleet strategy, which includes an orderly exit of older aircraft,” Mark Cezar, Cebu Pacific deputy chief finance officer said.
“We envision the total CEB fleet to be composed of new-generation aircraft in the next few years,” he added.
The airline’s newest aircraft is set to enter service on April 09, 2021, to serve various domestic routes the carrier flies direct to.
To date, the Cebu Pacific 74-strong fleet is comprised of eight A321NEO, 25 Airbus A320, seven Airbus A321CEO, five Airbus A320NEO, seven Airbus A330, six ATR 72-500, and 13 ATR 72-600 aircraft.
Its fleet also has two ATR freighters on top of one A330 freighter. The airline boasts of one of the youngest fleets in the world, with an average fleet age of about 5.7 years.
The airline recently raised P12.5 billion from existing shareholders and another P16 billion from local banks to strengthen its balance sheet and ensuring it has sufficient runway to thrive in the new normal.
Cebu Pacific earlier reported a net loss of P22.2 billion last year from P9.12 billion net income in 2019.
Its revenues amounted to P22.6 billion for 2020, 73 percent lower than 2019. The airline carried 5 million passengers last year, down by 78 percent compared to 2019.