PTT Philippines, a subsidiary of Thailand’s largest oil company PTT Public Co. Ltd., has signed a new aviation supply contract with Cebu Pacific for the budget carrier’s fuel requirements for 2015.
Under the contract, PTT will supply at least 225 million liters of Jet A-1 fuel to Cebu Pacific this year.
The contract was signed recently between PTT Philippines president and chief executive officer Sukanya Seriyothin and her Cebu Air counterpart Lance Gokongwei.
Seriyothin said the 2015 supply contract is 40 percent higher than the 155 million liters — or at least 13 million liters per month — contract that PTT signed with Cebu Air last year.
The fresh agreement is on top of a separate deal that both parties signed in the fourth quarter last year for Cebu Pacific and Tigerair’s fuel requirements at the Diosdado Macapagal International Airport (Clark). Under this deal, Cebu Pacific and Tigerair will buy 120,000 liters and 200,000 liters of fuel, respectively.
PTT Philippines has been supplying 70 percent of Cebu Air’s jet fuel requirements for the past 15 years.
It also supplies aviation fuel to other international and domestic airlines at Clark and other airports in the Philippines such as Emirates, UPS, and Qatar Airlines.
Besides commercial distribution, PTT Philippines is also into the retail business with more than 75 retail stations in Metro Manila, Central, North and South Luzon, and Cebu in the Visayas.
PTT has been in the Philippine for 18 years now, also operating a wholesale business serving the aviation, maritime and mining industries.