Cebu Pacific set to finalize $12-b aircraft deal in Q2

Defining the News

Cebu Pacific said Monday it expects to finalize a deal worth more than $12 billion within the second quarter to acquire 100 to 150 narrow-bodied jets, translating into a 9-percent annual increase in seat capacity by 2027.

Cebu Pacific chief finance officer Mark Cezar said the company is in the final stages of coordination with both Airbus and Boeing on the request for proposal for 100 to 150 narrow-bodied jets.He said the order is expected to result in a 9-percent compounded annual growth rate on seats beginning 2027 when it anticipates initial deliveries to commence.

The airline posted a net income of P2.24 billion in the first quarter of 2024, up by nearly 108 percent from P939 million in the same period last year. Cebu Pacific generated P25.3 billion in revenue in the first three months, a 21-percent increase from the previous year. It flew over 5.5 million passengers in the first three months, marking a 14-percent increase from the same period last year and a 3-percent growth from the preceding quarter.Ayala’s renewable energy arm unveils plan to develop Texas wind project

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MlaStandard /  🏆 20. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cebu Pacific brings back piso sale for Mother’s DayDefining the News
Read more »

Cebu Pacific adds direct flights to Bangkok's DMKDOMESTIC carrier Cebu Pacific said Thursday it is launching direct flights to Don Mueang International Airport (DMK), Bangkok as another gateway for travelers going to Thailand.
Read more »

Cebu Pacific adds flights to Thailand starting JulyDefining the News
Read more »

Cebu Pacific starts direct flights to Bangkok’s Don Mueang Airport on July 16Following the launch, Cebu Pacific will now be flying between Manila and Bangkok 17 times a week
Read more »

International travel, holidays drive Cebu Pacific’s net income to double in Q1This growth was boosted by travelers returning from their Christmas and Holy Week breaks, along with other regional Philippine festivals
Read more »

Cebu Pacific’s profit doubles to P2.2b amid strong travelDefining the News
Read more »