Sunday, September 30, 2012

Philippine Airlines to buy 10 Airbus A330s

Philippine Airlines said Friday it would buy 10 new Airbus A330 jets with a list price of $2.5 billion, on top of 54 aircraft it ordered from the European manufacturer last month. The new order, signed two weeks ago, brings the total PAL-Airbus deal at close to $10 billion, the airline's president, Ramon Ang, said in a statement. In the earlier deal, PAL and Airbus announced firm orders for 44 single-aisle A321 planes and 10 long-haul A330-300s. Ang said the extra 10 planes would replace PAL's current A330 fleet for medium-haul routes. He said Airbus would start deliveries of about 10 of the 64 orders next year, without specifying which ones. San Miguel, one of the Philippines' biggest conglomerates, bought a 49-percent stake in PAL for $500 million in April, and took over management. Ang is also head of San Miguel. Ang has sought to revive PAL, which has lost its status as the nation's top carrier in recent years to low-cost airline Cebu Pacific. Cebu Pacific last year ordered 23 Airbus 320 and 30 Airbus A321 neo aircraft to add to its fleet of 25 A320s, and in January leased eight A330s for long-haul flights.