Cebu Pacific Air, now the largest airline in the Philippines, said Friday it signed six-year operating lease agreements with Dublin-based RBS Aviation Capital for two new Airbus A320 aircraft, which will be delivered in March 2012.

CEB said this will be on top of 27 A320s to be delivered from September until 2016, and 30 A321neo aircraft to be delivered from 2017-2021. Last month, CEB signed an MOU with Airbus to purchase 30 A321neos and exercise options for seven current model A320s. The A321neos will be a first of the type to operate in the Philippines.

"These two leased A320 aircraft will further increase our fleet size, allowing us to offer lower fares and even more routes, destinations and flights to our guests," said CEB President and CEO Lance Gokongwei. "It will also enable us to continue expanding aggressively in the Asia-Pacific region, especially as we await delivery of more brand-new CEB aircraft."

CEB currently operates 10 A319s, 15 A320s and 8 ATR-72 500s. Of the 15 A320s, nine are under operating lease agreements.

RBS CEO Peter Barrett said, "This is our first transaction in the Philippines, and our first lease agreement with Cebu Air. We look forward to new opportunities in the region and developing a key relationship with one of the country's leading domestic carriers."