Cebu Air To Buy 7 More Airbus A320s

Titlu : Cebu Air To Buy 7 More Airbus A320s
Sursa : http://news.airwise.com/story/view/1271768578.html
Autor : Reuters
Data : 20/04/2010

Citat :

The Philippines' biggest budget carrier Cebu Air said on Tuesday it would buy an additional seven Airbus A320s, bringing to 22 its pending orders from European manufacturer Airbus.

Company President and chief executive Lance Gokongwei told reporters the carrier would spend USD$1.4 billion over five years on its aircraft purchases, most of which have been previously disclosed.

Cebu Air operates Cebu Pacific, which competes regionally against Singapore's Tiger Airways and Malaysia's AirAsia.

"What this expansion means is that we will have 51 aircraft by 2014. That's essentially doubling our passenger capacity," Gokongwei said, adding the purchases would be financed from internal funds, bank loans and the proceeds from a planned initial public offering.

Cebu Air had deferred a PHP25.7 billion peso (USD$577 million) IPO until after national elections next month. The share sale, which would have been the second airline IPO in Asia this year, was previously due for listing on the local bourse on May 3.

Gokongwei said no new date for a share sale had been identified.

"We will reconsider an IPO when the right timing arises. It's a function of the financial market," he said.

Cebu Air posted 2009 net income of PHP3.26 billion pesos, reversing a 2008 loss.