UPDATE 1-Philippine Air to purchase or lease Boeing, Airbus planes

Thu Aug 27, 2015 4:34am EDT
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* Studying purchase or lease of Airbus A350s or Boeing 787s

* Delivery of new planes could be 2017-18

* To replace Airbus A340 aircraft serving US and Europe

* Looking to buy or lease nine Bombardier turboprops (Adds details, background)

MANILA, Aug 27 (Reuters) - Airbus Group SE and Boeing Co are competing for contracts to supply Philippine Airlines Inc (PAL) with eight wide body, twin-engine aircraft, PAL's president said on Thursday.

The acquisition or lease of the fuel-efficient Boeing 787 Dreamliner or Airbus A350 XWB aircraft is a result of a strategic review after Philippines' fourth richest man Lucio Tan took over the carrier last year.

"The Dreamliner and XWB will be contributing to savings in fuel, savings in maintenance and will allow us to improve our product because we can fly non-stop to more destinations," PAL President Jaime Bautista told reporters.

He said an evaluation will be completed this year and delivery of the aircraft could be in 2017-2018.

PAL's six A340s currently serve the Los Angeles, San Francisco, London, New York and Vancouver routes. It also flies Boeing 777s on its long-haul routes, having retired its last four-engine Boeing 747 jumbo in September last year.   Continued...