This after the Spanish aerospace manufacturer won the contract for the P5.3 billion medium aircraft fixed wing project by the Department of National Defense (DND).
The PAF's medium lift capability is presently being fulfilled by its three F-27 "Friendship" aircraft.
EADS/CASA-Airbus Military's bid for the program only amounted to P5.29 billion.
The first plane will be delivered in August 2015, while the second will be in March 2016 and the last one in September 2016, Defense Secretary Voltaire Gazmin stated.
"These aircraft will help in troop and limited equipment movement," he added.
The C-295 is described as "a capable and versatile transport and surveillance aircraft.”
EADS/CASA stated that the C-295 can carry up to nine tons of cargo or 71 people
It also has a maximum cruising speed of 260 knots and operate in short and rough airfields. (PNA)