Philippine Airlines Eyes Expansion with Two Additional Widebody Leases

Philippine Airlines, the flag carrier of the Philippines headquartered in Manila, is setting its sights on fleet expansion with plans to lease two widebody aircraft later this year. This strategic move, announced by President and CEO Stanley Ng, aims to both replace an existing aircraft nearing the end of its lease term and to bolster the airline’s capacity to meet growing demand. During an event in Manila, Ng shared insights into the carrier’s focus on Boeing aircraft, with an anticipated delivery timeline set for mid-year, although specific details regarding the lease duration and the leasing partners were not disclosed.

As one of the leading airlines in the Asia-Pacific region, Philippine Airlines operates a diverse fleet of 78 aircraft, including a significant widebody component consisting of eleven Airbus A330-300s, two Airbus A350-900s, and nine Boeing 777-300ERs. The current fleet composition reflects the airline’s commitment to offering extensive international service, with a mix of leased and owned aircraft facilitating this goal. Notably, the upcoming leases are expected to address the return of two Boeing 777-300ERs to their respective lessors, AerCap and Castlelake, later this year.

The decision to enhance the widebody fleet comes at a crucial time for Philippine Airlines, as the airline reports a 50% increase in passenger numbers over the past year. This surge in demand, coupled with operational challenges such as out-of-service aircraft due to maintenance and supply chain issues, has placed additional pressure on the airline’s operational capabilities. By securing an additional Boeing widebody for its fleet, Philippine Airlines aims to alleviate some of this pressure, ensuring continued service reliability and growth in its route network.

This fleet expansion strategy is part of Philippine Airlines’ broader objective to progressively grow its operations to meet market demand and support the Philippine tourism industry. The airline’s optimistic outlook on the long-term growth prospects for the national aviation sector and the economy underscores its commitment to enhancing connectivity and service quality.

Philippine Airlines’ initiative to lease additional widebodies is a testament to the carrier’s proactive approach to addressing operational demands and positioning itself for future growth. As the airline awaits the mid-year delivery of the new aircraft, the aviation community and passengers alike anticipate the enhanced capabilities and service improvements these additions will bring to Philippine Airlines’ global network.