By Cris Larano and Rhea Sandique-Carlos
MANILA--Philippine Airlines, the country's largest full-service
carrier, on Tuesday unveiled an order of 54 Airbus aircraft that is
expected to cost $7 billion based on the price list.
This is the largest order by the local carrier, better known as
PAL, which is looking to expand its fleet. Philippine Airlines
President Ramon Ang reiterated the carrier's plan to buy up to 100
aircraft. He was speaking to reporters at a news briefing.
"We are in talks to buy more....Our intention is to buy up to
100 aircraft," he said.
The airline said it has placed orders for 34 units of A321, 10
units of 321Neo, and another 10 units of A330-300.
Ang said he expects delivery of the airline's new order to be
completed in three years.
PAL's current fleet includes three 777-300ERs and five 747-400s
from Boeing Co., and 31 Airbus jets comprising four A340-300s,
eight A330-300s, 15 A320-200s, and four A319s.
The airline is currently awaiting the delivery of three more
Boeing 777-300ERs.
Listed PAL Holdings Inc. (PAL.PH), the controlling shareholder
of PAL, said in June its board had approved a capital increase that
would allow it to issue new shares to raise 17 billion Philippine
pesos ($403 million) to help bankroll the fleet expansion.
Write to Cris Larano at cris.larano@dowjones.com and Rhea
Sandique-Carlos at rhea.sandique-carlos@dowjones.com
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