Cebu Pacific will buy a total of 152 aircraft from Airbus for $24 billion, roughly P1.4 trillion.
The agreement specifies Pratt & Whitney GTF™ engines to power the new aircraft.
This marks the largest aircraft order in the history of Philippine aviation.
The Gokongwei family's Cebu Pacific (CEB), the Philippines’ leading carrier, has signed a definitive memorandum of understanding (MoU) with Airbus for the purchase of up to 152 A321neo aircraft valued at $24 billion or 1.4 trillion.
This marks the largest aircraft order in Philippine aviation history. CEB has selected Pratt & Whitney GTF™ engines to power the future aircraft.
The MOU includes firm orders for up to 102 A321neo and 50 A320neo family purchase rights, a stamement showed on Tuesday.
CEB chief executive officer Michael Szucs said,
“When finalized, the deal will be a significant milestone for the local airline industry and a testament to CEB’s unwavering commitment to support the Philippine growth story.”
Cebu Pacific expects to complete a definitive purchase agreement for this transaction in the third quarter of this year.
Cebu Pacific currently operates a fleet of 34 Airbus A320 jets, 17 A321 variants, 8 A330 planes and 15 ATR72 Turboprops catering to the domestic and regional destinations and this massive expansion drive reflects the carrier’s confidence in the rebounding Philippine air travel sector.
