Philippine Airlines will order nine Airbus A350-1000 wide-body aircraft to expand its fleet and route network as air travel recovers from the pandemic, the flag carrier said on Wednesday.
The new aircraft will be operated on non-stop services from Manila to North America, its biggest international market, including the east coast of the United States and Canada, the company said.
Reuters on Tuesday reported that Philippine Airlines was close to a deal to acquire 10 Airbus planes, in the latest sign of a recovery in the market for wide-body jets, citing sources.
The first of the nine A350-1000s is slated to be delivered by the fourth quarter of 2025, with deliveries continuing until 2027, the airline said.
The Philippine flag carrier also secured purchase rights on three additional A350-1000s for future expansion to new long-haul destinations, it added.
The memorandum signed by Philippine Airlines is not yet a final order and fine-tuning the contractual details can take weeks or months.
The airline currently operates various Airbus jets, including the A350 on long-haul intercontinental routes and A330-300s on services to the Middle East, Australia and various points in Asia.
It also operates a fleet of A320 and A321 single-aisle aircraft on its domestic and regional network out of the capital, Manila, and Cebu in central Philippines.
Philippine Airlines filed for Chapter 11 bankruptcy in the United States in September 2021, allowing it to restructure finances that were hit hard by the COVID-19 pandemic. It exited the process, which involved a $2 billion cut in borrowings and a return of 22 of its 92 aircraft, in January 2022.
(Reporting by Neil Jerome MoralesAdditional Reporting by Tim Hepher, Editing by Martin Petty and David Goodman)
