SFGate: Philippine Airlines, Airbus Sign Jet Deal

[Bill Hough <psa188@xxxxxxxx>]

=20
----------------------------------------------------------------------
This article was sent to you by someone who found it on SFGate.
The original article can be found on SFGate.com here:
http://www.sfgate.com/cgi-bin/article.cgi?file=3D/n/a/2005/12/06/financial/=
f013439S35.DTL
 ---------------------------------------------------------------------
Tuesday, December 6, 2005 (AP)
Philippine Airlines, Airbus Sign Jet Deal



   (12-06) 01:34 PST MANILA, Philippines (AP) --

   Philippine Airlines and Airbus signed a deal Tuesday for the purchase of
nine new Airbus A320 jets and options for five more aircraft, the
companies said.

   The deal is valued at about $840 million, based on list prices.

   The package includes a firm order from PAL for nine new A320s and options
for five more new A320s, the companies said at a signing ceremony. The
single-aisle plane typically seats 150 people.

   As part of the deal, PAL also will lease two new A320s and two A319s from
GE Commercial Aviation Services, an international aircraft lessor.

   PAL President Jaime Bautista said last month the company plans to borrow
from export credit agencies to fund the purchases. The new aircraft will
service domestic and regional routes, he said.

   PAL currently has a fleet of 31 aircraft with an average age of nine
years, including Boeing 747-400s, 737-400s and 737-300s, as well as Airbus
A340-300s, A330-300s and A320-200s. ---------------------------------------=
-------------------------------
Copyright 2005 AP