Philippines' Cebu Air defers plane capex, seeks govt support amid virus crisis

The Philippines’ Cebu Air Inc said Monday it would defer previously planned aircraft capital expenditure and was in talks with the government for fiscal support as the coronavirus pandemic decimates demand for travel. Last year, the country’s largest budget carrier finalised the purchase of about 30 Airbus aircraft worth $6.8b at list prices as it sought larger, fuel-efficient jets to help it expand. However, those plans have been upended by the unprecedented crisis brought on by the pandemic, as strict travel restrictions imposed globally have left the airline industry largely grounded. Cebu said it was reviewing its long-term fleet plan and had begun discussion with suppliers “to establish flexibility to adapt to current events”.<br/>