PTT Philippines Corp. and Cebu Air Inc. (CEB), operator of budget carrier Cebu Pacific, have renewed their jet fuel-supply agreement for P7 billion.
The supply contract for 2018 was signed between PTT Philippines President and CEO Sukanya Seriyothin and CEB President Lance Gokongwei.
“Cebu Air has been a loyal and good business partner,” Seriyothin said. “Our partnership for more than 15 years is a testament of how it has been growing stronger for years.”
For over 15 years, PTT Philippines has been supplying jet fuel to Cebu Air and currently accounts for most of the airline’s total jet-fuel requirements, especially for their flights using the Ninoy Aquino International Airport, the Diosdado Macapagal Airport (Clark) and the Visayas routes.
PTT has been in the Philippines for more 20 years now, and is also into the fuel-retail business with 122 service stations to date spread across Luzon and in Central Visayas. Its wholesale business also serves the maritime industry.
Recently, it diversified into non-oil business with the introduction to the Philippine market of its coffee-shop chain, the Café Amazon, which originated from Thailand.