PAL seals $1.8-B deal for 6 Airbus

MANILA, Philippines - Flag carrier Philippine Airlines (PAL) would seal the purchase of six Airbus 350-900 in time for the opening of the Singapore Airshow tomorrow, highly reliable sources said.

“Ranking officials of PAL and Airbus are now in Singapore to sign the deal,” said the sources, who requested anonymity as they are not authorized to reveal details of the plan, adding an official announcement would follow after the signing.

The value of the deal is reported to be around $1.8 billion.

PAL and its subsidiary PALExpress are increasing their fleet of 60 Airbus jets, six Boeing aircraft and nine Bombardier airplanes.

The legacy carrier flies to 41 destinations and is acquiring more aircraft as it grows its lucrative international network to cater to increased demand from the 10 million overseas Filipino workers (OFW).

“PAL’s expected fleet acquisition underscores the buoyant outlook for Southeast Asia’s fifth-largest economy as it bucks a global slowdown. It is forecast to expand by six percent this year — one of the fastest growth rates in Asia,” the sources said.

The A350-900 is the cornerstone member of Airbus’ all-new A350 XWB which is well-suited to meet airlines’ market requirements in medium, long and ultra-long-haul operations.