Cebu Pacific Air, the biggest budget carrier in the Philippines, sold six of its Airbus A319 aircraft to a unit of Allegiant Travel Company with delivery scheduled starting this year until 2016.
Cebu Pacific said in a disclosure to the Philippine Stock Exchange it signed a forward sale agreement with the Allegiant subsidiary covering the sale of six Airbus A319 aircraft.
Allegiant is the parent company of Las Vegas-based low-cost airline Allegiant Air.
“This agreement is in line with CEB’s efforts to continuously improve operational efficiency by replacing and upgrading our fleet with the larger, more fuel efficient, and longer range A321neo aircraft,” said Cebu Pacific president and chief executive Lance Gokongwei in a statement.
The A321neo is the largest model in the A320neo series, which incorporate new engines and large wing tip devices called sharklets.