PAL To Sign A350 Deals With Airbus

15 January 2015

Flag carrier Philippine Airlines is set to sign $1-billion operating lease agreement with Airbus Financial Services for six long-range A350-900, a twin-engine wide-body jets in February, its President said Thursday.

Jaime J. Bautista, president and chief operating officer, said the deal involves six ultra long-range aircraft, aircraft parts and support equipment. No model variant of the type was however disclosed.

"It’s an ultra long-range aircraft that can fly non-stop from Manila to New York. The airplane can be used to other destinations also,” Baustista said.

The Airbus A350-900 has a list price of $308.1 million based on 2016 data released by the aircraft manufacturer yesterday.

The Purchase Agreement which was supposed to be signed in December 2015 was deferred for two more months to give the airline more time to evaluate the new Airbus proposal for the Ultra Long Haul variant which was presented by the aircraft manufacturer.

Airbus is expected to deliver the A350 aircraft in 2017 with delivery schedule from previously cancelled orders that were taken by other airlines. The planemaker reported 16 gross orders of A350-900 in 2015 with 19 cancellations, resulting in a net loss of three orders for the previous year. 

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