During the Farnborough International Airshow, Cebu Pacific, Airbus, and Pratt & Whitney formally signed a memorandum of understanding (MoU) for the purchase of up to 152 A321neo aircraft, valued at approximately $24 billion at list prices. This marks the largest aircraft order in the history of Philippine aviation.
The binding MoU, agreed upon in early July, includes firm orders for up to 102 A321neo aircraft and purchase rights for 50 A320neo family aircraft. Cebu Pacific has selected Pratt & Whitney GTF engines to power its future fleet.
«The order is designed to give Cebu Pacific the flexibility to choose between A321neo and A320neo aircraft as needed, helping us adapt to market changes,» said Michael Szucs, CEO of Cebu Pacific. «This agreement is a significant milestone in our ongoing mission to make air travel more accessible and affordable for everyone while supporting the growth of the Philippines,» he added.
Airbus highlighted the MoU as a testament to the airline’s confidence in its products and a positive signal for the aviation industry’s recovery. «We thank Cebu Pacific for their continued trust in Airbus and our products. These next-generation aircraft will enable the airline to reduce operating costs and continue offering low fares in a competitive market environment,» said Benoît de Saint-Exupéry, Executive Vice President of Commercial Aircraft Sales at Airbus.
Pratt & Whitney also expressed its gratitude for Cebu Pacific’s ongoing confidence in the GTF engine. «This latest order demonstrates the growing opportunities for aviation in the Philippines and the Asia-Pacific region,» said Rick Deurloo, President of Commercial Engines at Pratt & Whitney. «Our GTF engine will drive this growth while providing industry-leading benefits in fuel efficiency and sustainability for single-aisle aircraft. Cebu Pacific’s order attests to the value we deliver.»
The parties expect the purchase agreement formalizing this transaction to be completed in the third quarter of this year.
