According to CEB, the 16 A330neo aircraft will be fitted with up to 460 seats, 5 percent more capacity than the current A330ceo aircraft in the CEB fleet.

Cebu Pacific is adding 16 Airbus A330neos to its current fleet of Airbus A330ceos, A321neos (above), and A321ceos.

Gokongwei-led airline Cebu Pacific (CEB) on Monday announced a purchase agreement valued at $4.8 billion with European airframe manufacturer Airbus SE for the acquisition of 16 A330-300neo wide body aircraft.

In a disclosure to the Philippine Stocks Exchange (PSE), CEB said the planes were ordered to accelerate plans to boost capacity while shifting to more fuel-efficient and eco-friendly aircraft.

CEB president and CEO Lance Gokongwei said the A330neo is integral to the budget airline’s fleet modernization program.

“With this purchase, we aim to reduce our fuel emission and build a more sustainable operation. This will also give us the lowest cost per seat, at the same time enabling CEB to increase seat capacity and maximize valuable airport slots in Manila and other Asian megacities,” he said.

The purchase agreement is part of the memorandum of understanding signed by Cebu Pacific with Airbus in June 2019 during the Paris Air Show for an order of 31 next-generation aircraft, which also includes 15 A320neo single-aisle aircraft.

According to CEB, the 16 A330neo aircraft will be fitted with up to 460 seats, 5 percent more capacity than the current A330ceo aircraft in the CEB fleet.

Based in Toulouse in France, Airbus introduced updated engines dubbed “neo” for its A330 and A320 planes to enhance fuel efficiency and range. Neo, which stands for new engine option, also has a carbon footprint that is reportedly less than that of the ceo (current engine option).

The A330neo has an extended range capability of up to 15,000 kilometers while reducing fuel consumption by as much as 25 percent versus older-generation competing aircraft.

The 16 A330neo aircraft are scheduled for delivery between 2021 and 2024. By 2024, CEB expects to have an all-next generation fleet of Airbus jets.

The A330neos will replace CEB’s current A330ceos, which will be retired as the new aircraft are delivered.

Year-to-date, Cebu Pacific has accepted delivery of eight (8) brand-new aircraft — three Airbus A321neo and four A320neo; as well as an ATR 72-600.

The carrier is expecting delivery of two more Airbus A321neo aircraft by end-2019.

CEB boasts of one of the youngest fleets in the world, with an average fleet age of five years.

Recently, the budget airline bared plans to utilize the aircraft on trunk routes within the Philippines and the rest of Asia, as well as on long-haul routes to Australia and the Middle East.