Cebu Air Inc. (CEB.PH), the Philippines largest budget carrier by sales, Thursday said it placed firm orders with Airbus for 37 new aircraft, with a list price of $3.8 billion.

Lance Gokongwei, president and chief executive of the airline known as Cebu Pacific, said that as well as the seven A320 and 30 A321neos, the carrier has also taken options for 10 more A321neo aircraft.

Gokongwei said the new airbus airplanes will be delivered between 2015 and 2021, and are on top of the 18 more Airbus jets it ordered for delivery between this year and 2014.

-By Cris Larano and Rhea Sandique-Carlos, Dow Jones Newswires; 632-848-5051; rhea.sandique-carlos@dowjones.com