Airphil Express (APX), the low-cost unit of Philippine Airlines (PAL), has announced it will 18 narrow-bodied aircraft in the next few years to expand its domestic and regional routes.
APX plans to spend $250 million to acquire 18 brand new A320 aircraft for a period of two and a half years, which will be partly financed through internally generated funds, borrowings and the $50 million capital infusion from the Lucio Tan group, says Cesar Chiong, executive vice president and chief operating officer of APX.
APX ciurrent fleet stands at three A320s, and they expect to take delivery of another three A320 by end of 2010. Some 12 A320s are scheduled to be delivered next year and 2012.
“We are building up capacity... The idea is to cover the whole country,” Chiong said.
The airline will also start flying in Singapore on October 27, the airline’s first regional flight.