Low-cost air carrier Cebu Pacific is betting on the aviation industry making a full rebound as it is investing close to $2 billion or P112 billion for the delivery of 11 new engine options or NEO aircraft in 2023 as part of its plan to transition into an all -sustainable fleet by 2028.

"We are expecting delivery of about 11 brand new aircraft next year. They have delivery schedules associated with them and we are pretty much -expecting delivery every month in 2023," Cebu Pacific chief strategy officer Alex Reyes told reporters in a press conference.

The company plans to take delivery of three A320neo, four A321neo, and four A330neo.

As part of its sustainability thrust, the Gokongwei -led airline said all deliveries will use blended Sustainable Aviation Fuel or SAF on top of targeting to operate an all-NEO fleet by 2028.

The airline also aims to utilize SAF by launching green routes by 2025 and using SAF for its entire network by 2030.

First to employ SAF
Cebu Pacific became the first low-cost carrier in Southeast Asia to incorporate the use of SAF into its operations when it took delivery of its third A330NEO in May this year.

Relatedly, the company announced that it has already restored 92 percent of its pre-pandemic system-wide capacity amid a spike in its domestic and international routes.

"We are pretty close to reaching 100 percent pre-pandemic numbers and in 2023, I would say in the second to the third quarter, we may hit numbers that might be more than a hundred percent of the pre-pandemic level but the mix will be different. If China reopens, recovery will be faster," Cebu Pacific chief commercial officer Xander Lao said.

The airline now flies an average of 355 flights a day, covering 34 domestic and 19 international destinations — equivalent to about 64,000 seats offered in a day.

To date, Cebu Pacific has restored over 100 percent of its pre-pandemic domestic capacity, surpassing the airline's December 2019 level. As of the end of November, the airline already flew 13.3 million passengers as people regained confidence to travel.