PHOENIX Petroleum Philippines, Inc. said on Tuesday it renewed its fuel supply contract with Cebu Air, Inc. for another year, extending their partnership that is now running for 15 years.
With the renewal of the contract, Phoenix Petroleum commits to serving the Jet A-1 fuel requirements of Cebu Air, which operates Cebu Pacific, for 2019.
“We at Phoenix very much treasure the relationship that we have developed with Cebu Pacific. I would never forget the fact that it was one of the very first prominent brands that trusted us. The Jet A1 Supply Agreement was instrumental in earning our credibility and building our name in the industry as a formidable petroleum company,” said Dennis A. Uy, Phoenix Petroleum founder, president and chief executive officer, in a statement on Tuesday.
Phoenix Petroleum said the deal with Cebu Pacific had been initiated in 2004 when the oil company started providing storage and terminaling services to the airline’s Davao site.
It now serves 17 of Cebu Pacific’s sites across the country, including eight airports in Mindanao, seven in Visayas, and two in Luzon. It provides integrated Jet A-1 storage, handling, bridging, and into-plane services.
“Cebu Pacific is dedicated to giving the best service to our clients, and it is through partners like Phoenix that we are able to fulfill this mission,” Cebu Air President and Chief Executive Officer Lance Y. Gokongwei was quoted as saying.
On Tuesday, shares in Phoenix Petroleum slipped 1.32% to close at P12 each. — Victor V. Saulon
