By P.R.Venkat

Cebu Air Inc. (CEB.PH) has signed a purchase agreement with Airbus SE (AIR.FR) to acquire 16 A330-900 aircraft valued at $4.8 billion, the Philippine budget carrier said Monday.

The agreement is part of the 31 Airbus-plane order Cebu made at the Paris airshow in June. In addition to the 16 A330-900s, Cebu ordered 10 of the European plane maker's new A321XLR and five A320neo narrowbodies.

The A330-900s will be fitted with 460 seats, Cebu Chief Financial Officer Andrew Huang had said in June. The first of the planes should be delivered in 2021, he said at the time.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

November 03, 2019 20:46 ET (01:46 GMT)

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