Cebu Pacific mandates 2014 deliveries

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Philippine low-cost carrier Cebu Pacific has mandated a portfolio of new Airbus A320s and spare engines to two European banks.

DVB Bank and KfW IPEX-Bank will jointly provide commercial debt financing for A320s delivering in 2014, in a $154 million transaction.

Flightglobal’s Ascend Online database shows that Cebu Pacific will take four new A320s this year. The first delivery (MSN 5934) closed at the end of January. The other deliveries are scheduled for March, September and October.

The carrier will also take a new A320 in June under an operating lease agreement with GECAS, and return four A320s to lessors.

In 2014, the carrier will also grow its Airbus A330-300 fleet to five units. Cebu Pacific is scheduled to take two new A330s next month from CIT Aerospace. Another A330 will be added in the final quarter, from Intrepid Aviation.