PAL Looking to Buy 20 Boeing 777X Jets
Philippine Airlines (PAL) said it is looking at buying 20 Boeing 777X jets as part of a fleet upgrade aimed at challenging its main domestic rival Cebu Air and launching flights to the United States and Europe.
The jet, which is still in the development stage, is envisioned to be an improvement on Boeing's existing 777 models intended for long-haul service.
PAL, owned by Philippine conglomerate San Miguel and local billionaire Lucio Tan, also sealed deals last year to buy Airbus jets with list prices of close to USD$10 billion.
"It depends on the price. We are looking at the new Boeing 777X. We may buy 10 and, if it performs well, we'll exercise an option for 10 more," PAL president Ramon Ang told reporters on Monday.
"That's larger, can carry 400 passengers with longer range," Ang said. "The new 777, they call it X because it's lightweight, has bigger wings, newer engine," Ang added, without giving any further details.
PAL wants to add 100 new jets to its current fleet of around 40 planes in the next five to seven years as it reshapes its business.