PHILIPPINE AIRLINES (PAL) said it has secured sufficient jet fuel supply for scheduled operations in the “foreseeable future,” while Cebu Pacific (CEB) said it has fuel supply through end-April and is arranging supply for May and beyond.
“Philippine Airlines has secured sufficient jet fuel supply to support scheduled operations, including long-haul flights, for the foreseeable future,” the flag carrier said in a statement on Wednesday.
“We have secured our fuel supply up until the end of April, and we are already working on supply for May and beyond,” Cebu Pacific said in a separate statement.
The statements came after President Ferdinand R. Marcos, Jr. said aircraft grounding may be possible as jet fuel supplies remain tight, amid a global fuel crisis linked to the ongoing US-Israel and Iran conflict.
PAL said it continues to monitor global and regional developments that may affect jet fuel prices and supply.
It added that it is working closely with fuel suppliers and government stakeholders to ensure steady and efficient operations.
Cebu Pacific said about 72% of its fleet consists of Airbus NEO aircraft, which are designed for improved fuel efficiency, helping optimize fuel use.
According to the International Air Transport Association, jet fuel prices rose 12.6% week on week to $197 per barrel as of March 20. On a yearly basis, prices increased by 118%, based on data from the airline trade group.
Data from the Department of Energy showed that, as of March 20, the Philippines had enough available jet fuel supply for 38 days.
On Tuesday, Energy Secretary Sharon S. Garin said jet fuel supply remains stable, adding that current challenges are related to pricing and order adjustments due to shifts in supplier countries.
Both PAL and Cebu Pacific have announced temporary suspensions and reductions in flight frequencies on select routes due to the ongoing Middle East conflict, citing its impact on global fuel prices.
BusinessWorld also sought comment from AirAsia Philippines but did not receive a response as of the deadline. — Ashley Erika O. Jose
