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Philippines' Cebu Pacific Orders 20 Airbus A320s

Philippine budget airline Cebu Pacific will buy up to 20 Airbus A320s to more than double its fleet of the jets, the airline's president said Tuesday.

"We are buying up to 20 additional Airbus A320 aircraft for domestic and regional operations," Lance Gokongwei told reporters.

Cebu Pacific, formally called Cebu Air, completed a $670 million re-fleeting program earlier this month, which included 14 Airbus aircraft.

The new deal is made up of 10 firm orders, with five optional deliveries, and an additional five deliveries if the first five are taken, Gokongwei said. The A320 can accomodate a maximum of 179 passengers.

He said the firm orders are scheduled for delivery from 2010 to 2012, and the options from 2011 to 2013.

Two of the orders will replace leases that expire in 2012.

Cebu Pacific, which pioneered low fares in the Philippine in March 1996, flies to 17 domestic destinations. It also services Hong Kong, Singapore, Jakarta, Kuala Lumpur and Bangkok.