Philippine Airlines (PR, Manila Ninoy Aquino International) president and Chief Operating Officer Jaime Bautista says his airline is studying the A350 and the B787 as potential replacements for its fleet of A340-300s.

Bautista told the Philippine Star newspaper in an interview this week that the airline would likely phase out its six A340s by 2020.

“We are in the process of preparing a long term fleet plan for PAL. What we have finalized is for domestic and regional only but for long haul, we have yet to finalize our fleet plan,” he said. “We will change the A340 over time because they are 12-year old airplanes. Maybe over the next five years.”

The type's retirement was expected to occur much sooner but the recent slump in global petroleum prices has eased the pressure on the jets. The A340s, which collectively average 14.3 years of age, are currently used on flights to Bangkok Suvarnabhumi and Xiamen regionally as well as London Heathrow, Los Angeles International, New York JFK, San Francisco, and Vancouver International internationally.

The Filipino carrier's widebody fleet also includes six B777-300(ER)s and fifteen A330-300s.