Philippine Airlines is reportedly planning to purchase six or more long-range aircraft such as the Airbus A350 or Boeing 787.
The airline plans to use the new aircraft to replace its ageing fleet of four engine-powered A340 airliners, which require high levels of maintenance and burn more fuel.
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Philippine Airlines president Jaime Bautista was quoted by Inquirer.net as saying: "We are now in the process of evaluating, which aircraft we will choose to replace the Airbus A340s.
"The decision most probably [will be made] within the year."
The airline currently operates six Airbus A340s and six Boeing 777 300-ER aircraft.
With the potential addition of new airplanes, Philippine Airlines will have a fleet of 78 aircraft, and expects to save up to 30% on fuel costs.
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By GlobalData"If there are buyers, we can sell the Airbus A340s," Bautista added.
"They are becoming more expensive to operate, and it consumes more fuel…maintenance is also a little bit more expensive."
The airline anticipates purchasing more aircraft at a later date, based on the demand.
For January to March 2015 quarter, Philippine Airlines recorded a 30% increase in revenues to $627m, compared with $482.4m last year, and net earnings of $85m from a loss of $20.7m in 2014.
Airbus’ Global Market Forecast (GMF) for 2013 to 2032 estimated that Asia-Pacific will represent 36% of all new passenger aircraft demand.
Image: A 787-9 Dreamliner with new Boeing livery. Photo: courtesy of Boeing.
