5J Sells Planes

24 February 2014

Philippine Low Cost Carrier Cebu Pacific has finally sold its fleet of six (6) Airbus A319 planes to Las Vegas-based budget carrier Allegiant Air after two years of extensive negotiations leading to a Forward Sale Agreement with the Allegiant Travel Company subsidiary.

Allegiant will add two A319 this year and another two will be made available next year as the Cebu Pacific upgrades its fleet to all A320, A321, and 330 fleet.

“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,” Cebu Pacific president and chief executive Lance Gokongwei said in a statement released yesterday.

Delivery schedule is slated for completion in 2017.

Meanwhile,  Philippine Airlines also signed separate agreement with Allegiant to sell two of its A320 fleet for delivery in November 2015 as the airline also upgrades its fleet to A21s.

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