Philippine Airlines said today that it has signed a $7bn (€5.6bn) deal to buy 54 Airbus jets as part of an ambitious plan to overhaul its fleet to meet higher demands for transporting passengers and cargo in Asia, the Middle East and Australia.
PAL president Ramon Ang said the first batch of about a dozen A330-300s and A321s will be delivered in January. The rest of the aircraft are to go into service in the next three years.
Mr Ang said PAL is planning to buy an additional 46 aircraft from Airbus and other manufacturers, including Boeing. The airline currently has 39 aircraft.
After struggling against losses, depressed markets, high fuel prices and labour unrest, PAL has generated some profits in recent years, most recently in June and July, airline officials said.