Manila, Philippines – Budget airline Air Philippines will buy six new Bombardier Dash aircraft for $120 million as part of a fleet upgrade, a report said Monday.
The domestic carrier owned by local magnate Lucio Tan, who also controls international carrier Philippine Airlines, will purchase the 76-seater 8-Q400 aircraft from Toronto-based Bombardier Aerospace, the Philippine Star said.
The acquisition during the fourth quarter of 2008 will be financed either through an operating lease, finance lease, or export credit, the newspaper said quoting unnamed airline officials.
The airline recently bought six Bombardier Q300 turbo-prop aircraft for $56 million to serve its expanded domestic route network, including new services to the tourist island of Boracay.
Air Philippines currently operates eight Boeing 737-200 jet aircraft serving 12 destinations in the Philippines from hubs in Manila and Cebu.
The paper said the airline will be phasing out its Boeing 737-200s and have its future fleet comprising Airbus A320s, newer 737 ‘Classics’ and Bombardier Dash 8-Q400s in addition to Q300s.