After much recent speculation, the Philippines leading carrier Cebu Pacific has now confirmed the signing of a binding Memorandum of Understanding (MOU) with Airbus for a significant A321neo order.
Under the terms of the agreement, the carrier will purchase up to 152 Airbus A321neo aircraft.
Based on current list prices this represents an investment of USD $24 billion. It becomes a historic purchase as the largest aircraft order placed in Philippine aviation history.
Historic 152 Aircraft Order
Airbus and the Philippines carrier have now signed the landmark Memorandum of Understanding. The MOU covers a firm order for up to 102 A321neo aircraft, plus purchase rights for a further 50 A320neo Family aircraft.
Cebu Pacific has confirmed the selection of Pratt & Whitney GTF engines to power its future Airbus A321neo fleet.
Cebu Pacific Chief Executive Officer Michael Szucs offered comment on the recently brokered agreement.
“The order is designed to provide Cebu Pacific with maximum flexibility to adapt fleet growth to market conditions. It offers the ability to switch between the A321neo and A320neo.”
“When finalised, 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.”
The parties now expect to complete the purchase agreement finalizing this transaction in the third quarter of this year.
About Cebu Pacific
Cebu Pacific (CEB) is a Philippine low-cost carrier (LCC) based in Pasay, Metro Manila. It is Asia’s first LCC and the Philippines’ largest airline. Founded in 1988, it offers scheduled flights to both domestic and international destinations.
Here’s a quick rundown about Cebu Pacific:
- Bases: Cebu, Clark, Davao, Iloilo, and Manila
- Destinations: Over 60 destinations, including 34 domestic destinations and 30 international destinations in 19 countries
- Fleet: Airbus A320, A321, and A330 aircraft plus ATR 72 used by its feeder division Cebgo
- Subsidiary: Cebgo, which focuses solely on domestic flights within the Philippines
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