The operator of Cebu Pacific will stop using its Airbus A319 aircraft by 2018 as part of a strategy to utilize more fuel efficient jets.
The airline company owned by industrialist John Gokongwei said its remaining seven A319 aircraft were set to be delivered to Allegiant Travel Company between 2016 and 2018.
The airline’s three A319 jets were delivered to Allegiant last year.
Cebu Pacific signed agreement with Allegiant to sell six Airbus 319 aircraft in February last year and another four A319 aircraft in May this year.
Cebu Pacific president and chief executive Lance Gokongwei had said the agreement was in line with the airline’s efforts to expand operations both in the Philippines and abroad.
“We remain invested in upgrading our fleet with fuel efficient, versatile aircraft. Between 2016 and 2021, we are anticipating the delivery of 30 Airbus A321neos, for long-range capability, and 16 ATR 72-600 turboprop planes, for better inter-island connectivity,” Gokongwei said.
Cebu Pacific earlier signed a purchase agreement with Airbus SAS for the order of two A330-300 aircraft for $512.8 million.
The two A330 aircraft are expected to be delivered in December this year and May 2017.
Cebu Pacific currently operates one of the youngest fleets in the world, with an average age of 4.82 years. Its 57-strong fleet is comprised of 7 Airbus A319, 36 Airbus A320, 6 Airbus A330 and 8 ATR 72-500 aircraft.
The airline earlier posted a net income of P7.68 billion in January to June, up 47 percent from P5.2 billion in the same period last year.
Revenues rose 12.3 percent in the first six months to P33.09 billion from P29.51 billion in the same period last year. Passenger revenues grew 10.8 percent to P25.28 billion from P22.81 billion.