Cebu Pacific will purchase over 150 new aircraft from Airbus in the largest single aircraft order in Philippine aviation history.
Cebu Pacific will purchase over 150 new aircraft from Airbus in the largest single aircraft order in Philippine aviation history.
The Philippine-based budget carrier reported it has signed a Memorandum of Understanding (MoU) with European aircraft manufacturer Airbus for up 152 Airbus A320neo family aircraft in a deal worth around PHP 1.4 trillion (~USD $24 billion) in list prices. The order will include purchase rights for up to 102 A321neos and 50 A320neos.
“The order is designed to provide Cebu Pacific with maximum flexibility to adapt fleet growth to market conditions, with the ability to switch between the A321neo and A320neo,” said Cebu Pacific CEO Michael Szucs.
“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,” Szucs added.
In addition to the aircraft order, Cebu Pacific has selected Pratt & Whitney GTF engines to power the ordered aircraft.
Cebu Pacific and Airbus are expected to finalize the deal during the third quarter of the year.
Previously, Cebu Pacific announced its intentions to order up to 150 narrowbody aircraft and issued requests for proposals to both Airbus and Boeing.
According to planespotters.net, Cebu Pacific's fleet consists of 87 aircraft – including Airbus A320/A321neo family and ATR turboprop aircraft. The airline expects to have around 95 aircraft by year's end.
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