Cebu plans $300m capex in 2013

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

Cebu Pacific Air has budgeted $300 million in capital expenditures this year, mainly covering new aircraft deliveries.

The carrier confirms it will take delivery of nine Airbus aircraft, seven of which are Airbus A320s while the two others are A330-300s.

The two A330s will be leased from CIT Leasing with deliveries in June and September, according to Flightglobal's Ascend Online database.

Cebu Pacific also has seven A320s joining its fleet in 2013. Two aircraft will deliver in April and June, under operating lease contracts with SMBC Aviation Capital and GECAS. The Philippine-based carrier took one A320 in January and has four more to be delivered in March, July, September and October from its direct orderbook.

In 2012, capex totalled approximately $200 million. During the year, two new A320s were leased from SMBC Aviation Capital while the remaining three were financed under a 12-year export credit agency-guaranteed loan transaction with KfW IPEX-Bank and Sumitomo Mitsui Banking.