June 17, 2019 / 3:39 PM / 3 months ago

Cebu to buy over two dozen Airbus jets: sources

FILE PHOTO: An Airbus A330neo aircraft takes off from the Airbus delivery center in Colomiers near Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau/File Photo

PARIS (Reuters) - Airbus is set to win a deal to sell jets worth around $4.5 billion at list price to Philippines airline Cebu Air after a face-off with rival Boeing, industry sources said.

The deal involves 16 A330neo wide-body jets and around

10 of the newly launched A321XLR extended-range narrow-body aircraft, the sources said, asking not to be identified.

Together with other aircraft and options the deal could involve as many as 40 aircraft, one of the sources added.

Airbus declined comment. Cebu officials could not be reached for comment.

The deal follows a fight for business at the Philippines budget airline as Airbus seeks a new foothold for its A330neo in the face of heavy competition from Boeing’s 787 Dreamliner.

The carrier had at one point been seen as likely to proceed with a Boeing 787 order, prompting Airbus to rescue the deal .

Cebu Air plans to expand its fleet with new aircraft that burn less fuel, CEO Lance Gokongwei said last month.

Asian carriers are looking to renew their long-haul fleets as passenger demand remains robust despite a decline in cargo.

Reporting by Tim Hepher; Editing by Laurence Frost

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