PAL seeks $500m for 3 more Airbus A350s

Philippine Airlines said it is in talks with financial institutions to secure approximately $500m in funding for the acquisition of three additional Airbus aircraft. “These three that we ordered are just options. It is for our buffer,” PAL President and COO Stanley K. Ng told BusinessWorld on Tuesday. This additional aircraft purchase is on top of the nine A350-1000s planned by the company, Ng said, adding that, overall, PAL is now ordering 25 aircraft. “Maybe half a billion [for these three], more or less around that. We are talking to the banks right now for the funding,” Ng said. “For the buffer, it will be by 2025,” he said, when asked about the expected arrival of the additional three Airbus A350s. Deliveries for the nine A350-1000s are scheduled until 2027 and will be operated on nonstop services from Manila to North America, including the East Coast and Canada. In April, PAL said that it was targeting to purchase 13 A321 New Engine Options (NEOs). These aircraft will start arriving next year and continue through to 2028, he said.<br/>