Philippines' Cebu Pacific eyes purchase of 100-150 aircraft for up to $12 billion

MANILA (Reuters) - Philippines budget carrier Cebu Pacific is looking to order 100-150 aircraft from either Boeing or Airbus worth up to $12 billion, its president said on Tuesday.

The $12 billion figure was based on list prices, said the airline's president, Alexander Lao.

Airlines typically get discounts on big orders worth at least half the headline price, analysts say.

Lao was responding to a Reuters query following a report in the Inquirer newspaper on Tuesday that said Cebu Pacific will seek out the best offer from either Boeing or Airbus in what is likely a winner-takes-all deal.

It will solicit proposals from the two airline manufacturers by the end of this week, Inquirer said, quoting CEO Mike Szucs. Lao did

Cebu Pacific is the Philippines' largest budget carrier, operating an exclusive fleet of 80 Airbus aircraft as of the first half.

It is gearing up for a long-term fleet expansion to take advantage of post-pandemic travel demand. It has so far accepted 12 aircraft this year, and will receive seven more before the end-2023.

Cebu Pacific booked a net income of 3.75 billion pesos ($66.1 million) in the first half, reversing a 9.5 billion net loss a year ago.

(Reporting by Neil Jerome Morales; Editing by Martin Petty)